Snap-On price target lowered to $273 from $280 at BofA

BofA lowered the firm’s price target on Snap-On (SNA) to $273 from $280 and keeps an Underperform rating on the shares. Snap-On’s Q4 results came in broadly in line with consensus, though the Tools business continued to see moderating organic growth, the analyst tells investors. The firm lowers revenue forecasts 3%, largely on weaker Tools demand, noting that its EBIT and EPS estimates decline 3% as well in line with lower growth.