Analyst Kevin Steinke of Barrington maintained a Buy rating on ACCO Brands (ACCO – Research Report), with a price target of $7.00.
Kevin Steinke has given his Buy rating due to a combination of factors that highlight ACCO Brands’ potential for growth and improvement. Despite facing challenges such as currency headwinds and economic uncertainties, ACCO has shown resilience through strategic initiatives. The company has managed to expand its operating margin by implementing cost reduction strategies, achieving $25 million in savings in 2024, which exceeded initial targets.
Furthermore, ACCO is focusing on product innovation and expanding its offerings into new categories and markets, which is expected to drive future sales growth. The company’s commitment to restructuring and increasing its cost savings target to $100 million by 2026 reflects a proactive approach to navigating the current economic environment. These efforts, combined with ACCO’s strong brand portfolio and international expansion, underpin Kevin Steinke’s confidence in the company’s ability to outperform in the future.
In another report released yesterday, Noble Financial also maintained a Buy rating on the stock with a $12.00 price target.