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.
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 SWK:
- Early notable gainers among liquid option names on December 22nd
- Stanley Black & Decker to Sell CAM to Howmet
- Stanley Black & Decker to sell CAM business to Howmet Aerospace for $1.8B
- Stanley Black & Decker names Agustin Diaz Chief Global Supply Chain Officer
- Stanley Black & Decker price target raised to $105 from $100 at UBS