BMO Capital analyst Ketan Mamtora maintains $Fortune Brands Innovations (FBIN.US)$ with a hold rating, and adjusts the target price from $84 to $95.
According to TipRanks data, the analyst has a success rate of 74.2% and a total average return of 18.4% over the past year.
Furthermore, according to the comprehensive report, the opinions of $Fortune Brands Innovations (FBIN.US)$'s main analysts recently are as follows:
The anticipated results for Q3 in the North American Building Materials sector are predicted to be modest. Despite this, investor attention has decisively turned towards projections for 2025. Analysts are adopting a more optimistic view on the housing demand outlook for 2025 but remain cautious with most building product companies, suggesting that the anticipated recovery in demand may have already been factored into current stock prices. In relation to Fortune Brands Innovations, there's an expectation of increased earnings per share by FY26, influenced by an uptick in Repair & Remodeling and fresh housing demand. Nevertheless, there is a cautionary note regarding potential margin pressures arising from the upward trajectory of copper and zinc prices in the early part of 2025.
Observations on the residential building products sector indicate a mixed outlook, with some sources reporting slightly deteriorating trends, yet observing less severe year-over-year growth declines across various categories. It's anticipated that the near-term mixed trends will be overlooked by investors who are likely to shift their focus towards a potential sector recovery expected to commence in 2025.
Note:
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