BofA raised the firm’s price target on Fortune Brands Innovations to $72 from $56 and keeps an Underperform rating on the shares. The firm, which recently increased its outlook for single-family home starts and expects 9% year-over-year growth to 1.03M in 2024 as homebuilders increase community count and sales improve with lower mortgage rates, says that in the building products group it still prefers names levered to new construction over repair & remodel, or R&R.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See today’s best-performing stocks on TipRanks >>
Read More on FBIN:
- Fortune Brands Innovations initiated with a Perform at Oppenheimer
- Fortune Brands Innovations price target raised to $78 from $61 at Loop Capital
- Fortune Brands Innovations price target raised by $16 at JPMorgan, here’s why
- Fortune Brands Innovations price target raised by $21 at Barclays, here’s why
- Fortune Brands Innovations raises dividend to 24c from 23c