Truist raised the firm’s price target on Fortune Brands Innovations to $92 from $65 and keeps a Buy rating on the shares after its Q4 earnings beat and above consensus FY24 guidance. The company’s margins and completed acquisitions are expected to drive growth in the year, as organic growth is projected to be flat, the analyst tells investors in a research note. Truist added that the firm still see good changes for a renovation spending turn in 2024, which could provide potential upside to the stock.
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- Fortune Brands Innovations downgraded to Market Perform at BMO Capital
- Fortune Brands Innovations sees FY24 EPS $4.20-$4.40, consensus $4.19
