BMO Capital Downgrades Fortune Brands to Market Perform, Raises Price Target to $82
Portfolio Pulse from Benzinga Newsdesk
BMO Capital analyst Ketan Mamtora has downgraded Fortune Brands (NYSE:FBIN) from Outperform to Market Perform while increasing the price target from $76 to $82.

January 31, 2024 | 10:30 am
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NEUTRAL IMPACT
Fortune Brands was downgraded by BMO Capital from Outperform to Market Perform, although the price target was raised from $76 to $82.
The downgrade to Market Perform suggests that BMO Capital believes Fortune Brands is now valued appropriately, indicating a neutral outlook on the stock's short-term performance. However, the increase in the price target to $82 implies a belief that the stock still has potential to grow, which could mitigate negative sentiment from the downgrade.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100