Snap-On price target raised to $240 from $230 at BofA

BofA analyst Elizabeth Suzuki raised the firm’s price target on Snap-On to $240 from $230 and keeps an Underperform rating on the shares. The firm raised its FY23, FY24 and FY25 EPS estimates following Snap-On’s Q1 earnings report, but it continues to see downside risk to shares as economic sluggishness could pressure growth in the medium term.