Leggett & Platt price target lowered to $16 from $18 at Truist

Truist analyst Keith Hughes lowered the firm’s price target on Leggett & Platt to $16 from $18 and keeps a Hold rating on the shares. The firm cites the company’s announcement that an amendment to its credit facility has not cleared up the question of a potential cut to its dividend. Truist suspected that Leggett & Platt would only cut if made to by the banks, but the lack of confirmation has substantially raised the possibilities to a cut, the analyst tells investors in a research note.