S&P Capital IQ Reiterates its BUY Rating on Stanley Black &Decker

October 19 00:00 2011

NEW YORK, October 19 (RainbowNewsLine.com) – Analyst Michael Jaffe of S&P Capital IQ reiterates his BUY rating on the shares of Stanley Black & Decker (NYSE: SWK).

Analyst Michael Jaffe, in a research note published yesterday mentions that the company reported Q3 EPS marginally short of the estimates due to higher taxes than anticipated. The company gained 11% in sales reflecting the organic growth, currency, & acquisition, though the margins were supported by cost synergies & volume leverage. Although the company is expecting restricted growth in its sectors and developed regions where it has presence, the analyst believes that the strength in emerging markets and new product offering offerings would help results. The 2011 and 2012 EPS estimates have been raised from $5.05 to $ 5.20 and from $ 5.92 to $6.05 respectively.