Stanley Black & Decker price target lowered to $100 from $104 at Wells Fargo

Wells Fargo analyst Joseph O’Dea lowered the firm’s price target on Stanley Black & Decker to $100 from $104 and keeps an Equal Weight rating on the shares. The firm says that gross margin is the KPI and persistent demand challenges potentially delays timing of reaching the 35%+ target. That said, despite a revenue shortfall, Q3 margin was in-line with its estimate, Wells adds.