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Stanley Black & Decker, Inc. (NYSE: SWK) is poised to benefit from the ongoing strength in power tool demand. The $1.9 trillion stimulus also lends further upside, according to BofA Securities.
The Stanley Black & Decker Analyst: Ross Gilardi upgraded the rating for Stanley Black & Decker from Underperform to Neutral, while raising the price target from $185 to $205.
The Stanley Black & Decker Thesis: The demand for power tools remains extremely strong and the $1.9 trillion relief bill could magnify this, Gilardi said in the upgrade note.
“SWK has talked down the risk of rising input costs at recent competitor events, and the company has an investor day on May 13th that some may view as a positive catalyst,” he added.
At the investor day, the company “could pledge to drive Tools & Storage operating margin above 20% through the cycle and officially bless the buyout of the remaining 80% of MTD that it doesn’t already own,” the analyst said.
SWK Price Action: Shares of Stanley Black & Decker were trading almost flat at $191.98 at the time of publication Friday.
(Photo: Stanley Black & Decker)
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