(August 9, 2011)

NEW YORK - RBC Bearings' work in the aerospace markets should protect it during an economic downturn, KeyBanc said Tuesday, as it upgraded its ratings on the ball bearing company.

Paired with the falling price of the company's stock, the company presents an attractive investment, said analyst Steve Barger also introduced a $40 price target for RBC.

RBC makes ball bearings for industrial and military use.

"We think the recent pullback in RBC shares offers a compelling opportunity to buy a well-diversified, net-debt negative company that is a specialty supplier of highly engineered components," Barger wrote.

The analyst said RBC's shares should exhibit less volatility than similar companies. While no manufacturing company is completely protected from a drop in industrial production, RBC is somewhat insulated by its about 50 percent exposure to aerospace markets, Barger said.

Barger said both Boeing and Airbus plan to boost production over the next few years, increasing demand for RBC's products.

In addition, the company's industrial business includes some of the stronger end markets such as mining equipment makers and energy, Barger said, as he upgraded the stock to "Buy" from "Hold."

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