Whirlpool price target raised to $103 from $101 at BofA

BofA raised the firm’s price target on Whirlpool (WHR) to $103 from $101 and keeps an Underperform rating on the shares. Whirlpool reported Q3 adjusted EPS of $3.43, versus the firm’s $2.79 estimate, mainly driven by a lower tax rate, while the company maintained 2024 revenue guidance of about $16.9B, adjusted EBIT margin of approximately 6.0%, and adjusted EPS of about $12, the analyst noted. Following the report, the firm raised its 2024 adjusted EPS view by 17% to reflect a lower tax rate, which adds $1.30 to its prior forecast, but lowered its 2025 adjusted EPS view by 3%, the analyst noted.