Wells Fargo Starts Stanley Black & Decker (SWK) at Market Perform; Well Positioned, But Shares Seem To Discounting Earnings Upside

Wells Fargo initiates coverage on Stanley Black & Decker (NYSE: SWK) with a Market Perform. PT range $81-$84.

Wells analyst says, "We like Stanley’s earnings growth prospects led by a recovery in housing and management’s efforts to grow the Security and Industrial businesses. We believe there is upside potential to the company’s 2012 EPS guidance ($5.75-$6.00). However, we believe the shares currently offer moderate share price appreciation from their current level. Our 2012 EPS estimate is $5.95 (versus consensus of $5.87) and our 2013 EPS estimate is $6.65 (versus consensus of $6.68)."

For an analyst ratings summary and ratings history on Stanley Black & Decker click here. For more ratings news on Stanley Black & Decker click here.

Shares of Stanley Black & Decker closed at $78.13 yesterday.

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