Goldman Sachs analyst Joe Ritchie lowered the firm’s price target on Stanley Black & Decker to $94 from $107 and keeps a Neutral rating on the shares. The company’s Q3 segment EBIT results beat consensus, driven by strength in both Industrial and Tools & Outdoor, though its growth backdrop continues to be challenging, with organic sales expecting to stay on trend in Q4, the analyst tells investors in a research note. The firm remains at neutral on Stanley Black & Decker pending a clearer picture on the growth recovery path, Goldman Sachs added.
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