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Fly News Breaks for January 25, 2018
FUL
Jan 25, 2018 | 07:33 EDT
Seaport Global analyst Michael Harrison upgraded H.B. Fuller to Buy and raised its price target to $66 from $63. Harrison sees opportunities ahead including increasing confidence in Royal synergies, FY18 revenue guidance that looks conservative, and strong free cash flow to fund debt paydown. The analyst views Q4 as a messy quarter, as expected, with Royal in the mix for about six weeks, an extra week in the prior-year quarter, and ongoing raw material cost challenges. Harrison expects margin improvement related to pricing efforts, improving mix, restructuring efforts, and Royal synergies.
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