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Fly News Breaks for April 27, 2018
FBHS
Apr 27, 2018 | 06:35 EDT
Loop Capital analyst Laura Champine lowered her price target on Fortune Brands to $67 after the company's Q1 earnings miss on disappointing performance in cabinets. Champine keeps her Buy rating however, stating that her thesis of growth in the Fortune Brands' plumbing segment driving margin expansion remains intact, combining with better doors sales to help offset the weakness in cabinets. The analyst points to the 19% Q1 growth within the plumbing segment, only 3% of which came from acquisitions.
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