Deutsche Bank Reiterates Buy on Stanley Black & Decker
Deutsche Bank is out with its report today on Stanley Black & Decker (NYSE: SWK), reiterating Buy.
In a note to clients, Deutsche Bank writes, "In our view, SWK remains an extremely attractive long-term holding for a number of reasons, including an impending Resi recovery, continued execution of the BDK acquisition and high probability of continued M&A activity which can be materially accretive to earnings. Despite all of this, the stock continues to trade at a 12% discount to the MI/EE sector at 11.2x 2012e EPS. As such, since we see the potential for a modest EPS miss this quarter, if this scenario were to materialize, we would advise accumulating the stock on any weakness. Reiterate Buy."
Deutsche Bank maintains a $90 PT on SWK.
Shares of SWK closed Wednesday at $71.10, down 0.07% from Tuesday's close.
