Snap-On price target raised to $365 from $324 at Roth MKM

Roth MKM raised the firm’s price target on Snap-On (SNA) to $365 from $324 and keeps a Buy rating on the shares. The firm cites the company’s encouraging Q3 results while noting that it is “bullish” on its prospects, favoring Snap-On’s recession-resistant nature of the business as well as the durability of its model, the analyst tells investors in a research note. Roth MKM adds it is positive on the name as the pivot to price elasticity issues in the Tools segment is finally taking hold, and factoring in solid RS&I – Repair Systems & Information – and C&I – Commercial & Industrial – segment demand.