Barrington Research Outperform On Snap-On

Barrington Research is out with a research report on Snap-On

and it has a Outperform rating and a $65-70 price target on shares. In the note to clients, Barrington Research writes, "Through new product innovation the company was able to launch 47 new products in 2010, each of which exceeded $1 million in annual revenue compared to four years ago when it launched only 7 new products which exceeded $1 million in annual revenue. We expect this pace of new product development and sales generation from new products to be similar to 2010 in 2011 and 2012." Shares of SNA are down 89 cents to $50.12, a loss of 1.7% so far today.