Market Overview

UPDATE: JP Morgan Initiates Fortune Brands Home & Security at Neutral on Valuation

Share:
Related FBHS
Building A Home Improvement Portfolio With Low Volatility & High Returns
Morning Market Gainers
Williams-Sonoma Launches Designer Collection under PBteen (Zacks)

JP Morgan initiated coverage on Fortune Brands Home & Security (NYSE: FBHS) with a Neutral rating and a $30 price target.

JP Morgan noted, "Overall, we believe the company represents a premier name in the Building Products sector from a quality perspective, given its consistent track record of above market sales growth and an efficient cost structure which has led to above peer profitability. However, after a strong YTD performance, with the stock up 74% vs. our universe up 62% (S&P: +14%), valuation appropriately reflects these attributes, in our view, trading at nearly 15x our 2016 Earnings Power."

Fortune Brands Home & Security closed at $29.67 on Wednesday.

Latest Ratings for FBHS

DateFirmActionFromTo
Aug 2015Cantor FitzgeraldInitiates Coverage onBuy
Aug 2015Cantor FitzgeraldInitiates Coverage onBuy
Jul 2015BairdMaintainsOutperform

View More Analyst Ratings for FBHS
View the Latest Analyst Ratings

Posted-In: JP MorganAnalyst Color Initiation Intraday Update Analyst Ratings

 

Related Articles (FBHS)

Get Benzinga's Newsletters