Brady price target raised to $51 from $47 at BofA

BofA raised the firm’s price target on Brady to $51 from $47 and keeps an Underperform rating on the shares. Following the company’s Q4 results and its F24 guidance, BofA raised its FY24 and FY25 estimates to $4.00 from $3.55 and $4.15 from $3.70, respectively. However, it continues to rate Brady at Underperform given relative upside compared to other companies in the analyst’s coverage as well as the “challenging” macro environment.