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Fly News Breaks for October 26, 2018
SWK
Oct 26, 2018 | 07:03 EDT
KeyBanc analyst Kenneth Zener maintained an Overweight rating on Stanley Black & Decker following the company's Q3 results. In a research note to investors, Zener says FY18 guidance was cut on tariffs, FX and cost inflation headwinds, yet quantified FY19 tariffs may establish a cost inflection point. Zener lowered his FY18E EPS to $8.15 from $8.40 and FY19E EPS to $8.70 from $9.33, and cut his price target to $170 from $190 on lower earnings and valuation.
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