Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.
Stanley Black & Decker, Inc. (NYSE:SWK) faces more challenges than tougher comps in the back half of 2021 and its performance is likely to be impacted over the next couple of years by rising competition and peaking margins in the power tool space, according to BofA Securities.
The Stanley Black & Decker Analyst: Ross Gilardi downgraded Stanley Black & Decker from Neutral to Underperform and reduced the price target from $187 to $175.
ENTER TO WIN $500 IN STOCK OR CRYPTO
Enter your email and you'll also get Benzinga's ultimate morning update AND a free $30 gift card and more!
The Stanley Black & Decker Thesis: Although the company has been successful in protecting its margins so far, it may need to increase its R&D spend to keep up with competition, Gilardi said in the downgrade note.
“While Stanley is making inroads with Amazon (NASDAQ:AMZN) and touting market share gains against the industry, its number one competitor (Techtronic) is growing much faster and fortifying its position at Home Depot (NYSE:HD), particularly in the outdoor space with its 40-V battery cordless Ryobi line,” the analyst said.
“Stanley is the clear category leader at Lowe’s with Craftsman and DeWalt, but faces heavier competition in outdoor battery cordless from Chervon’s EGO, which will have a bigger role at Lowe’s this year, while Stanley mulls the MTD buyout.”
SWK Price Action: Shares of Stanley Black & Decker were down 5.55% at $168.65 at last check Monday.
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.