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  4. Stanley Black & Decker Lacking a Reversal Catalyst - Deutsche Bank
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Stanley Black & Decker Lacking a Reversal Catalyst - Deutsche Bank

By Sam Boughedda A Deutsche Bank analyst downgraded shares of Stanley Black & Decker (NYSE:SWK) from Buy to Hold, reducing the firm's price target on the stock from $126 to...
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Stanley Black & Decker Lacking a Reversal Catalyst - Deutsche Bank © Reuters. Stanley Black & Decker (SWK) Lacking a Reversal Catalyst - Deutsche Bank

By Sam Boughedda

A Deutsche Bank analyst downgraded shares of Stanley Black & Decker (NYSE:SWK) from Buy to Hold, reducing the firm's price target on the stock from $126 to $111 in a note to clients Wednesday.

The analyst said the stock is lacking a catalyst for reversal, with SWK shares down 46% in 2022.

"From a high level, 2Q earnings season generally met our expectations," said the analyst. "We had previewed widespread earnings beats, aided by very conservative management/consensus expectations, as companies faced China Covid lockdowns and continued supply chain and price/cost challenges. That said, there were a few exceptions - companies that unexpectedly slashed their full-year outlooks - and SWK certainly took the cake with a 45% cut to 2022e adj. EPS guidance. This occurred on a very hectic day of earnings for us, and so we have revisited our model and investment thesis - and after doing this, we have decided to downgrade the stock."

The analyst acknowledged that it was far from the ideal time to downgrade SWK shares after the stock underperformed its coverage universe significantly, both year-to-date and in 2021.

"A 'cheap' valuation has generally kept us from downgrading the stock up to this point, but following the big cut to 2022e adj. EPS guidance, the stock's NTM P/E multiple has shot up to 22x, representing a 17% premium to the MI/EE group median. And while it is not fair to compare SWK's valuation to peers given vast differences in cyclical dynamics (consumer vs. industrial), we do think that the current share price comes close to accurately pricing in a real trough EPS forecast," added the analyst.

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01-05-2024 10:45:17 (UTC+7)

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1.0658

-0.0008 (-0.07%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (2)

Sell (3)

EUR/USD

1.0658

-0.0008 (-0.07%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (2)

Sell (3)

GBP/USD

1.2475

-0.0015 (-0.12%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (0)

Sell (10)

USD/JPY

157.91

+0.12 (+0.07%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (9)

Sell (0)

AUD/USD

0.6469

-0.0003 (-0.05%)

Summary

Neutral

Moving Avg:

Buy (10)

Sell (2)

Indicators:

Buy (2)

Sell (3)

USD/CAD

1.3780

+0.0003 (+0.03%)

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↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (7)

Sell (0)

EUR/JPY

168.32

+0.10 (+0.06%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (9)

Sell (0)

EUR/CHF

0.9808

+0.0001 (+0.01%)

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Sell (12)

Indicators:

Buy (3)

Sell (2)

Gold Futures

2,295.80

-7.10 (-0.31%)

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85.62

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Euro Stoxx 50

4,920.55

-60.54 (-1.22%)

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Buy (4)

Sell (8)

Indicators:

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5,035.69

-80.48 (-1.57%)

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DAX

17,921.95

-196.37 (-1.08%)

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Sell (12)

Indicators:

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Sell (6)

FTSE 100

8,144.13

-2.90 (-0.04%)

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Moving Avg:

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Indicators:

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Sell (4)

Hang Seng

17,763.03

+16.12 (+0.09%)

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Sell (12)

Indicators:

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1,973.05

-42.98 (-2.13%)

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-246.40 (-2.22%)

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 EUR/USD1.0658↑ Sell
 GBP/USD1.2475↑ Sell
 USD/JPY157.91↑ Buy
 AUD/USD0.6469Neutral
 USD/CAD1.3780↑ Buy
 EUR/JPY168.32↑ Buy
 EUR/CHF0.9808Neutral
 Gold2,295.80↑ Sell
 Silver26.677↑ Sell
 Copper4.5305↑ Buy
 Crude Oil WTI81.14↑ Sell
 Brent Oil85.62↑ Sell
 Natural Gas1.946↑ Sell
 US Coffee C213.73↑ Sell
 Euro Stoxx 504,920.55↑ Sell
 S&P 5005,035.69↑ Sell
 DAX17,921.95↑ Sell
 FTSE 1008,144.13Sell
 Hang Seng17,763.03↑ Sell
 Small Cap 20001,973.05↑ Sell
 IBEX 3510,854.40Neutral
 BASF49.155↑ Sell
 Bayer27.35↑ Sell
 Allianz266.60↑ Sell
 Adidas226.40↑ Sell
 Lufthansa6.714Neutral
 Siemens AG175.90↑ Sell
 Deutsche Bank AG15.010Neutral
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# So hôm qua # Chênh TG
SJC Eximbank8,300/ 8,500
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