Fortune Brands Innovations price target lowered to $59 from $70 at RBC Capital

RBC Capital lowered the firm’s price target on Fortune Brands Innovations (FBIN) to $59 from $70 and keeps a Sector Perform rating on the shares. The firm cites the company’s in-line Q1 earnings and pulled guidance, also noting that it sees meaningful risk to the management’s expectation of offsetting 100% of tariffs this year given its significant exposures and likely continued volume erosion, the analyst tells investors in a research note. RBC also cuts its FY25 EPS view to $3.55 from $4.11 and its FY26 view to $3.96 from $4.55.