Wells Fargo cuts Stanley Black & Decker's PT amid demand challenges

Stanley Black & Decker

07/10/2024 16:26

** Wells Fargo cuts toolmaker Stanley Black & Decker's
 SWK.N  PT to $104 from $110 
    ** New PT represents a 2.4% upside to the stock's last close
    ** Management is not expecting any change in demand other
than normal levels of promotional activity in the holiday season
- brokerage 
    ** Wells Fargo says co's top-line forecast below both that
of Lowe's  LOW.N  and Home Depot  HD.N  on uncertainty around
underlying consumer demand
    ** 3 of 18 brokerages rate the stock "buy" or higher, 13
"hold" and 2 "sell" or lower; median PT is $110 - LSEG
    ** Including session's moves, stock up 9.5% YTD

 (Reporting by Soumendra Mukherjee)
 ((Soumendra.Mukherjee@thomsonreuters.com))