Wells Fargo Sees More Upside in Stanley Black & Decker (SWK) after Talks with Management

With a 5-Year Average Dividend Growth Rate of 3.47%, Stanley Black & Decker, Inc. (NYSE:SWK) is included among the Top 11 Dividend Kings to Buy for Safe Dividend Growth.

On June 18, Wells Fargo raised the firm’s price recommendation on Stanley Black & Decker, Inc. (NYSE:SWK) to $90 from $80. It reiterated an Equal Weight rating on the stock. The firm met with the company’s CFO, Pat Hallinan, and Investor Relations representative Michael Wherley in Toronto the previous day. According to Wells Fargo, management’s tone was upbeat and consistent with comments made during the firm’s CEO fireside chat the week before.

Earlier, on May 28, Morgan Stanley lowered its price goal on SWK to $84 from $87. It kept an Equal Weight rating on the shares. Analyst Christopher Snyder said the company continues to execute well as its restructuring efforts progress. Those improvements have supported higher gross margin and earnings-per-share estimates. At the same time, ongoing competitive pressures and a still-soft Tools & Outdoor market continue to weigh on the outlook, with few near-term catalysts expected to drive demand, the analyst noted in a research report.

Stanley Black & Decker, Inc. (NYSE:SWK) is a global provider of hand tools, power tools, outdoor products, and related accessories. The company also supplies engineered fastening solutions through its Tools & Outdoor and Engineered Fastening segments.

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