BUZZ-Baird raises PT on Applied Industrial Technologies

** Baird raises Applied Industrial Technologies' AIT.N target price to $210 from $205; maintains "outperform" rating

** "We have significant confidence in management's ability to continue the present cautious demand backdrop" - brokerage

** Co posts Q4 adj. EPS of $2.64, beating analysts' average estimate of $2.51 - LSEG data

** Four of five brokerages rate the stock "buy" or higher, one "hold"; their median PT is $222.50

** YTD, AIT up 18% as of last close

(Reporting by Anshuman Tripathy in Bengaluru)

((Anshuman.Tripathy@thomsonreuters.com;))