Fortune Brands Innovations price target raised to $85 from $78 at Loop Capital

Loop Capital analyst Garik Shmois raised the firm’s price target on Fortune Brands Innovations to $85 from $78 and keeps a Hold rating on the shares. The analyst cites the company’s modest Q4 earnings beat on a stronger single family new construction outlook and better than expected EBIT margins. Q1 is starting slowly however, and investors may be questioning the sharp margin ramp in the Water segment that’s needed to hit the company’s new guidance, the firm added.