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UPDATE: KeyBanc Upgrades Fortune Brands Home & Security to Buy on Strong Earnings Outlook

Related FBHS
Fortune Brands' (FBHS) Growth Prospects Solid, Runs Risks
What Drove Fortune Brands (FBHS) to a New 52-Week High?

KeyBanc upgraded Fortune Brands Home & Security (NYSE: FBHS) from Hold to Buy and announced a $38.00 price target.

KeyBanc said, "Our conviction to upgrade FBHS mirrors our view that sustained, upward earnings revisions are likely as: 1) its wholesaler/dealer exposure realizes superior growth to peers; 2) it delivers steady operating leverage of 30%; 3) 83% of sales to U.S. housing delivering a favorable product mix; 4) and capital is deployed given its 0% current net debt rate. Our $38 price target equals 15x/12x our 2013 EV/EBITDA and 31x/20x our earnings estimate, respectively."

Fortune Brands Home & Security closed at $32.80 on Wednesday.

Latest Ratings for FBHS

Jun 2017Credit SuisseInitiates Coverage OnOutperform
Apr 2017Evercore ISI GroupDowngradesBuyIn-Line
Apr 2017NomuraInitiates Coverage OnNeutral

View More Analyst Ratings for FBHS
View the Latest Analyst Ratings

Posted-In: KeyBancAnalyst Color Upgrades Analyst Ratings


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