Fly News Breaks for December 17, 2019
Dec 17, 2019 | 06:23 EDT
RBC Capital analyst Michael Dahl downgraded Fortune Brands to Sector Perform from Outperform with a $67 price target. The analyst is citing the company's valuation, with the stock turning into a "consensus buy-side long". Dahl believes that expectations may have become "too optimistic" in reflecting the near-term trajectory of the cabinets business following the antidumping tariffs.
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