Jefferies notes that Stanley Black & Decker announced a deal to divest its Consolidated Aerospace Manufacturing business for $1.8B. The merits of this transaction are multifold, in both facilitating debt paydown and diverting resources on the core Tool & Outdoor segment, the firm says. Symbolically, Jefferies views this as a “final chapter” of the organizational transformation initiated in mid-2022 that now sets the company up for recurring organic growth. The firm reiterates a Buy rating on the shares with a price target of $88.
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