Baird analyst Justin Kleber lowered the firm’s price target on Valvoline (VVV) to $46 from $48 and keeps an Outperform rating on the shares. The firm said its solid finish to FY24 was overshadowed by a softer profit outlook due to cost uncertainties and a step-up in IT spend; and commentary around increased “pockets” of promotional activity from tire/repair shops.
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Read More on VVV:
- Valvoline price target lowered to $44 from $46 at Wells Fargo
- Valvoline Inc. Reports Strong Fiscal Year 2024 Growth
- Franchise Equity Partners forms partnership with Valvoline
- Valvoline Reports Strong 2024 Financial Performance
- Valvoline reports Q4 adjusted EPS 46c, consensus 44c
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