Ivan Feinseth, an analyst from Tigress Financial, reiterated the Buy rating on Snap-on (SNA – Research Report). The associated price target is $390.00.
Ivan Feinseth’s rating is based on Snap-on’s ability to capitalize on the increasing complexity of vehicles and the aging vehicle fleet, which are expected to drive revenue and cash flow growth. The company’s Rapid Continuous Improvement process fosters ongoing innovation in product development, allowing Snap-on to meet the demands of more complex vehicles, thereby enhancing shareholder value.
Additionally, Snap-on’s expansion into other industry verticals and its focus on increasing software and data solutions contribute to its strong business performance. The company’s strategic use of AI and its efficient balance sheet management support new growth initiatives, including product development and acquisitions, while also enhancing shareholder returns through dividends and share repurchases.
Feinseth covers the Technology sector, focusing on stocks such as Garmin, Nvidia, and MongoDB. According to TipRanks, Feinseth has an average return of 15.2% and a 63.00% success rate on recommended stocks.