Fortune Brands Innovations saw its fair value estimate revised upward to US$49.92 from US$46.64, reflecting updated analyst assumptions. The revision follows the appointment of new CEO Jesse Singh, with Truist upgrading the stock to Buy and raising its price target to US$70, citing turnaround potential at core brands Moen and Therma-Tru. However, several firms including JPMorgan, BMO Capital, and BofA have lowered their price targets in recent months, pointing to ongoing risks around brand execution and capital allocation. The updated fair value model kept revenue growth at 2.56% and net profit margin near 9.86%, while the future P/E multiple was increased to 16.32 times from 15.46 times and the discount rate was lowered to 9.70% from 10.21%.
Fortune Brands Innovations Inc.Fair value estimate raised to US$49.92, Truist upgraded to Buy with US$70 target citing turnaround potential.