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Fortune Brands Innovations downgraded to Hold from Buy at Loop Capital
The Fly

Fortune Brands Innovations downgraded to Hold from Buy at Loop Capital

Loop Capital analyst Garik Shmois downgraded Fortune Brands Innovations to Hold from Buy with an unchanged $65 price target. The stock has reached his prior price target and the first half of 2023 still poses "tough comparisons", the analyst tells investors in a research note. The firm adds that even though macro indicators are suggestive of a "soft-landing" or mild recession, 2023 back-half visibility remains limited enough to prevent it from raising estimates or calling for further multiple expansion in Fortune Brands shares at this time.

Published first on TheFly

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