BMO Capital analyst Ketan Mamtora raised the firm’s price target on Fortune Brands Innovations to $84 from $82 and keeps an Outperform rating on the shares. The firm is positive on the company’s balanced business mix between R&R and new residential, the analyst tells investors in a research note. At 7.8-times expected EBITDA, the stock’s valuation is attractive and creates “growth and synergy runway”, BMO added.
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