Barclays analyst Julian Mitchell raised the firm’s price target on Stanley Black & Decker to $110 from $92 and keeps an Overweight rating on the shares following quarterly results. The firm cites re-rating of Resi peers, and evidence of traction in the company’s inventory reduction which should initially yield free cash flow recovery, followed by an earnings recovery.
Published first on TheFly
See the top stocks recommended by analysts >>
Read More on SWK:
- Citi upgrades Stanley to Neutral despite ‘excessive’ valuation
- Stanley Black & Decker upgraded to Neutral from Sell at Citi
- Stanley Black & Decker price target raised to $99 from $79 at Deutsche Bank
- Stanley Black & Decker downgraded to Neutral from Buy at Longbow
- Stanley Black & Decker sees 2024 EPS ‘closer to $5.00’
