Jefferies analyst Philip Ng maintains $Fortune Brands Innovations (FBIN.US)$ with a buy rating, and adjusts the target price from $97 to $111.
According to TipRanks data, the analyst has a success rate of 57.4% and a total average return of 10.2% 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:
Preference is given to building products over homebuilders amidst an uncertain earnings outlook, as part of the third-quarter earnings preview for the homebuilding and building products sector.
For the building products sector, short-term challenges are anticipated due to inclement weather conditions and a decline in housing starts, potentially leading to volatility around earnings announcements. Nonetheless, a positive outlook towards 2025 persists, underpinned by a decrease in rates. It's expected that companies that have not performed as strongly in the past, similar to Martin Marietta, Vulcan Materials, Summit Materials, and TopBuild, may experience a surge in their stock price following their earnings reports.
Note:
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Success rate is the number of the analyst's successful ratings, divided by his/her total number of ratings over the past year. A successful rating is one based on if TipRanks' virtual portfolio earned a positive return from the stock. Total average return is the average rate of return that the TipRanks' virtual portfolio has earned over the past year. These portfolios are established based on the analyst's preliminary rating and are adjusted according to the changes in the rating.
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