Stanley Black & Decker (SWK) PT Lowered to $140 at Wolfe Research

Wolfe Research analyst Nigel Coe lowered the price target on Stanley Black & Decker (NYSE: SWK) to $140.00 (from $143.00) while maintaining a Outperform rating.

The analyst says the sell-off was an over-reaction.

He comments "The 15% sell-off was an over-reaction, but it was a crowded long that had rallied sharply YTD and there is no longer outsized benefits from trade resolution. Management’s framework for FY19 seems reasonable, but the depressed 1Q19 earnings guide means that risks will be viewed to the downside vs. upside, especially with housing/consumer fundamentals continuing to deteriorate."

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