Fortune Brands Innovations price target lowered to $87 from $92 at Truist

Truist analyst Keith Hughes lowered the firm’s price target on Fortune Brands Innovations (FBIN) to $87 from $92 but keeps a Buy rating on the shares. The company’s Q4 results came in well below Street views on continued China pressure and a software outage in the Security segment, the analyst tells investors in a research note. While the management provided more details on its digital products that are seen as a positive, but execution and messaging need to improve for the stock to be a leader again, Truist added.