Snap-On price target raised to $409 from $385 at Roth Capital

Roth Capital raised the firm’s price target on Snap-On (SNA) to $409 from $385 and keeps a Buy rating on the shares after its Q4 earnings beat. The firm retains a positive stance on the Snap-on story, noting however that after benefiting from a successful shift toward more affordable tools in previous quarters, Tools segment revenue flattened out in Q4 given ongoing soft repair technician confidence, the analyst tells investors in a research note. Roth adds it is favoring the recession-resistant nature of end demand and durability of Snap-On business model.