JPMorgan analyst Michael Rehaut reiterated an Overweight rating and $73 price target on Fortune Brands, telling investors in a research note that he believes its current valuation does not fully reflect his outlook for continued solid EPS growth and accretive reinvestment of free cash flow. Rehaut says that while his Q2 EPS estimate of 94c is solidly below the Street's $1.03, which he believes is largely due to a more conservative approach towards Cabinets on a near-term basis as it navigates its repositioning, he would use any potential weakness following the quarter as a buying opportunity, as we remain comfortable with the company's full year guidance and the company's longer-term prospects.