Fortune Brands Innovations price target lowered to $55 from $60 at Truist

Truist lowered the firm’s price target on Fortune Brands Innovations (FBIN) to $55 from $60 and keeps a Hold rating on the shares. The company’s results came in modestly below the Street as the management guided to the lower end of its previous range, the analyst tells investors in a research note. Like most of the firm’s renovation focused coverage, modestly weak results were seen in all areas with some inventory reductions in doors, though good results were seen in high-end plumbing, Truist added.