Barclays Maintains Overweight Rating for Fortune Brands: Here's What You Need To Know
Portfolio Pulse from Benzinga Insights
Barclays has maintained its Overweight rating for Fortune Brands (NYSE:FBIN) but lowered its price target from $74.00 to $66.00. Fortune Brands' shares are currently trading at $55.94, up 1.29% over the last 24 hours. A move to the new price target would represent a 17.98% increase from the current share price.
October 26, 2023 | 5:00 pm
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Barclays has maintained its Overweight rating for Fortune Brands but lowered its price target. This could potentially lead to an increase in the stock's price if the market aligns with Barclays' assessment.
The Overweight rating indicates that Barclays expects Fortune Brands to outperform the market. However, the lowering of the price target might indicate a tempered expectation of the stock's future performance. If the market aligns with this assessment, it could lead to an increase in the stock's price.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 100