KeyBanc Upgrades Stanley Black & Decker (SWK) to Buy; Near-Term Pain, Long-Term Gain

KeyBanc upgraded Stanley Black & Decker (NYSE: SWK) from Hold to Buy with a price target of $80.00.

Analyst, Kenneth R. Zener, said, "We are upgrading SWK to BUY with based on: 1) its effective response to 1H12 challenges in Europe and currency; 2) relatively low risk earnings from past actions; and 3) attractive cash flow at a 10% yield. While we acknowledge concerns over a regional portfolio shift, we believe any divested businesses will be appropriately priced and any acquired assets will likely have a higher secular vs. cyclical growth pattern."

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 $66.09 yesterday.

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