In a report published Thursday, Wunderlich Securities analyst Liam D. Burke initiated coverage on Snap-on SNA with a Buy rating and $140.00 price target.
In the report, Wunderlich Securities noted, “We are initiating coverage of Snap-on Incorporated (SNA) with a Buy rating and $140 price target. Snap-on operates an industrial and tools business with high barriers to entry and geographic diversification that results in sustainable fundamentals. The valuation for the core business should be more in line with a high-quality industrial company. With Snap-on's long history of lean culture, operating margins should continue to improve on low- to mid-single digit sales growth. With Snap-on's finance business fully consolidated, contract and finance receivables should grow more in line with revenue growth, and free cash flow should increase at a faster rate than earnings.”
Snap-on closed on Wednesday at $120.11.
Market News and Data brought to you by Benzinga APIs© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Loading...
date | ticker | name | Price Target | Upside/Downside | Recommendation | Firm |
---|
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in