Loop Capital lowered the firm’s price target on Fortune Brands Innovations to $61 from $81 and keeps a Hold rating on the shares. The company participated in the theme of the earnings season so far – “beat handsomely on Q3 but guide down for Q4”, the analyst tells investors in a research note. There are limited catalysts until the interest rate environment stabilizes or until there’s better visibility to volumes into next year, the firm added.
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Read More on FBIN:
- Fortune Brands Innovations price target lowered to $66 from $74 at Barclays
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- Fortune Brands Innovations reports Q3 EPS $1.19, consensus $1.10
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- Fortune Brands Innovations price target lowered to $75 from $90 at Truist