RBC Capital raised the firm’s price target on Fortune Brands Innovations to $81 from $79 and keeps a Sector Perform rating on the shares after its Q2 earnings beat. The management narrowed the FY24 EPS guide despite a lower top-line as margins more than offset slower sales, and while the Q4-weighted guide presents risks as macro headwinds persist, Fortune Brands has some support from price/cost and share wins, the analyst tells investors in a research note.
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