Jefferies analyst Jonathan Matuszewski raised the firm’s price target on Stanley Black & Decker to $86 from $82 and keeps a Buy rating on the shares. Investor attention has been centered around Chris Nelson succeeding Don Allan, Jr. as president and CEO in the coming weeks, though there are additional shifts, according to the firm. Checks show Stanley Black & Decker hired a new VP of global quality and a new VP of engineering excellence earlier this month, Jefferies told investors. The firm expects both to support the company’s return to sustainable organic growth.
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