Snap-On well-positioned to benefit from higher vehicle complexity, says Tigress

Tigress Financial analyst Ivan Feinseth keeps a Buy rating and $336 price target on Snap-On but notes that the company is well-positioned to benefit from increasing vehicle complexity and a combination of the aging global vehicle fleet, the ongoing development and introduction of new products, and expansion into new industry verticals. The near-term Tools Group weakness creates a long-term buying opportunity for the stock, the analyst tells investors in a research note.