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BofA analyst Ross Gilardi downgraded Stanley Black & Decker, Inc. (NYSE: SWK) to Underperform from Neutral and lowered the price target to 0 (implying a downside of 5%) from $230.
The analyst cites the company's "lackluster" Q3 results amid slowing core Tools & Storage business and negative comps likely coming in the first half of FY22.
Gilardi adds that while valuation is not overly demanding, he also sees a "real risk" around Stanley Black & Decker's buyout of the remaining 80% of MTD.
Recently, Wells Fargo lowered the price target to $219 (an upside of 22.84%) from $227 and Maintained an Overweight rating on the shares.
Related Content: Stanley Black & Decker Stock Slides After FY21 Outlook Cut.
Price Action: SWK shares traded lower by 0.36% at $179.09 on the last check Monday.
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B of A Securities
Initiates Coverage On
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