RBC Capital analyst Mike Dahl lowered the firm’s price target on Fortune Brands (FBIN) to $61 from $62 and keeps an Outperform rating on the shares after its Q4 earnings miss. Elements of the management’s guide showed some uncharacteristic conservatism, while the weak margin outlook proved worse than feared and results in a notable resetting of estimates/expectations, the analyst tells investors in a research note.
Claim 55% Off TipRanks
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Discover top-performing stock ideas and upgrade to a portfolio of market leaders with Smart Investor Picks
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on FBIN: