UPDATE: Barclays Downgrades Stanley Black & Decker (SWK) to Equalweight; Remodeling Demand Constrained

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August 20, 2012 7:44 AM EDT
Get Alerts SWK Hot Sheet
Price: $102.07 -0.14%

Rating Summary:
    16 Buy, 14 Hold, 3 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 13 | Down: 14 | New: 11
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(Updated - August 20, 2012 12:22 PM EDT)

Barclays downgraded Stanley Black & Decker (NYSE: SWK) from Overweight to Equalweight with a price target of $75.00.

Analyst, Stephen Kim, said, "We believe that remodelling demand is being constrained by drastically reduced home equity and the recent weakening of consumer confidence. For, as strong as the residential construction market has been, it largely stands alone against a host of weakening economic statistics."

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 $68.38 yesterday.

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