Why Stanley Black & Decker Stock Popped Today
Shares of Stanley Black & Decker (NYSE: SWK) stock closed 3.4% higher on Tuesday after Wolfe Research analyst Nigel Coe removed his "underperform" (i.e., sell) rating from the stock, and upgraded shares of the toolmaker stock to peer perform (i.e., neutral).
Image source: Getty Images.
This wasn't exactly a full-throated howl of endorsement. Wolfe's analyst didn't feel sufficiently confident in his upgrade to hang a specific price target on the stock, for example. Still, in a note covered today on The Fly, Coe mused that markets for Stanley's products look "troughy."
Source Fool.com
