BofA raised the firm’s price target on Fortune Brands Innovations to $72 from $56 and keeps an Underperform rating on the shares. The firm, which recently increased its outlook for single-family home starts and expects 9% year-over-year growth to 1.03M in 2024 as homebuilders increase community count and sales improve with lower mortgage rates, says that in the building products group it still prefers names levered to new construction over repair & remodel, or R&R.
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