Goldman Sachs analyst Susan Maklari downgraded Leggett & Platt to Neutral from Buy with a price target of $34, down from $39. The analyst expects conditions across Leggett’s consumer-facing businesses to remain challenging. This should be partially offset by a recovery in the company’s industrial-facing operations, but these only account for 5% of sales, the analyst tells investors in a research note. Goldman’s forecasts for earnings remain below 2015-19 levels, leading the firm to believe the stock will be range-bound.
Published first on TheFly
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