Roth MKM raised the firm’s price target on Snap-On (SNA) to $365 from $324 and keeps a Buy rating on the shares. The firm cites the company’s encouraging Q3 results while noting that it is “bullish” on its prospects, favoring Snap-On’s recession-resistant nature of the business as well as the durability of its model, the analyst tells investors in a research note. Roth MKM adds it is positive on the name as the pivot to price elasticity issues in the Tools segment is finally taking hold, and factoring in solid RS&I – Repair Systems & Information – and C&I – Commercial & Industrial – segment demand.
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Read More on SNA:
- Snap-On price target raised to $280 from $255 at BofA
- Snap-On price target raised to $347 from $290 at Baird
- Snap-On price target raised to $350 from $325 at Barrington
- Early notable gainers among liquid option names on October 17th
- Snap-On reports Q3 EPS $4.70, consensus $4.59
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