Whirlpool hits near 3-month high after BofA upgrades to 'neutral', raises PT
13/06/2025 16:14
Corrects bullet point 6 in June 13 news item to say brokerage raised 2025 EPS estimates to $8.56 from $8.35 ** Shares of Whirlpool Corp WHR.N rise 5% to $92; its highest since late March ** BofA Global Research upgrades rating to 'neutral' from 'underperform'; raises price objective to $94 from $68, reflecting a premium of 7.3% to the stock's last close ** On June 12, the U.S. Department of Commerce announced that, starting June 23, home appliance imports will be subject to a 50% tariff on the value of foreign steel used ** BofA says the recent inclusion of appliances under Section 232, is poised to provide a meaningful boost to the company's North America segment, leveraging its robust domestic manufacturing footprint ** Co's CFO James Peters said in BofA fireside chat that despite some changing tariff rates, WHR still expects to fully mitigate the impact of tariffs, mainly with pricing, which it expects to realize the benefits of the April price increase in 2025 ** Lifts 2025 EPS forecast to $8.56 from $8.35 ** Three of 11 brokerages rate the stock "buy" or higher, seven "hold" and one "sell"; their median PT is $97- data compiled by LSEG **Including session moves, shares are down 19.8% YTD (Reporting by Apratim Sarkar) ((Apratim.Sarkar@thomsonreuters.com))