Truist raised the firm’s price target on Fortune Brands Innovations to $82 from $75 and keeps a Buy rating on the shares. The company’s revenue was weaker, but its better margins held up results, even though China plumbing headwinds have gotten even worse, holding back numbers in the quarter, the analyst tells investors in a research note. An R&R rebound has not occurred, but heavier homebuilding exposure at Moen could help results, the firm added.
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