New York, July 19 (FinanceEnquiry.com) – Analyst Michael Jaffe at S&P CAPITAL IQ maintains BUY ratings on the shares of Stanley Black & Decker (NYSE: SWK). The 12-month target price is set to $89.
In a research note published yesterday, the analyst mentions that the 2012 EPS estimate has been lowered from $5.80 to $5.55 and 2013 from $6.85 to $6.35. The 12-month target price is based on 14x of 2013 estimate and the lower to middle part of its historical range as the valuation was moves forward by a year.
The Q2 EPS was $1.32 against $1.46 is less than the bank’s estimate of $0.28 with sales and profits weaker as compared to both Security and Industrial areas, with weakness in Europe. SWK has been benefiting from better trends in Construction and Do it Yourself segment and current cost synergies from recent acquisitions, the analyst says.
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