Truist lowered the firm’s price target on Fortune Brands Innovations (FBIN) to $55 from $60 and keeps a Hold rating on the shares. The company’s results came in modestly below the Street as the management guided to the lower end of its previous range, the analyst tells investors in a research note. Like most of the firm’s renovation focused coverage, modestly weak results were seen in all areas with some inventory reductions in doors, though good results were seen in high-end plumbing, Truist added.
TipRanks Cyber Monday Sale
- Claim 60% off TipRanks Premium for data-backed insights and research tools you need to invest with confidence.
- Subscribe to TipRanks' Smart Investor Picks and see our data in action through our high-performing model portfolio - now also 60% off
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on FBIN:
- Fortune Brands Innovations: Earnings Call Highlights
- Fortune Brands Innovations price target lowered to $55 from $63 at Evercore ISI
- Fortune Brands Innovations price target lowered to $63 from $65 at RBC Capital
- Fortune Brands Innovations price target lowered to $79 from $83 at UBS
- Fortune Brands Innovations price target lowered to $65 from $68 at Barclays