$165 price target and outperformance rating
- Shares of Stanley Black & Decker, Inc. (NYSE: SWK) received a price target of $165 from Credit Suisse. These are the details.
Shares of Stanley Black & Decker, Inc. (NYSE: SWK) received a price target of $165 from Credit Suisse. And Credit Suisse analyst Daniel Oppenheim launched a hedge on Stanley Black & Decker with an “outperform” rating on the stock.
“We expect the closer focus on tools and storage (T&S) and industry will help accelerate the growth of Stanley Black & Decker’s core, trusted brands such as Dewalt, Black+Decker, Bostitch and Craftsman in power tools, hand tools and the outdoors. electrical equipment. We expect its push towards greater mix of the professional (PRO) segment, focus on home and garden tools, and continued rapid shift to electrification will drive sales. In addition, the orientation of the industrial segment around technical fixation and infrastructure – two growth areas – will also generate stronger growth,” Oppenheim wrote in a research note.
Oppenheim also noted that Stanley Black & Decker’s decision to sell its security business allows the company to focus on its core segments and use the proceeds from the sale to repurchase about $4 billion in stock. And Oppenheim expects the company to continue to pursue growth opportunities in the industrial sector while continuing its 50/50 combination of return of capital to shareholders and acquisitions.
Disclaimer: This content is intended for informational purposes. Before making any investment, you should do your own analysis.