Baird analyst Tmothy Wojs raised the firm’s price target on Fortune Brands Innovations to $64 from $59.82 and keeps a Neutral rating on the shares. The analyst updated his model and estimates to adjust for the spinoff of MasterBrand. He said he likes the improved portfolio, which should result in faster growth and higher margins over time but he remains on the sidelines for now as he sees the 12-month risk/reward as balanced,
Published first on TheFly
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