Snap-On selloff ‘major buying opportunity,’ says Tigress Financial

Tigress Financial analyst Ivan Feinseth reiterates a Buy rating on Snap-On with a $336 price target saying near-term tools group weakness “creates a major buying opportunity.” Snap-On remains well positioned to benefit from increasing vehicle complexity and a combination of aging global vehicle fleets and an acceleration of global vehicle sales, the analyst tells investors in a research note. The firm says the company’s long-term business trends will continue to accelerate and overcome a near-term shift in technician buying behavior.