Baird Reiterates Neutral Rating on HB Fuller (FUL)

Baird analyst Ghansham Panjabi reiterated a Neutral rating and $90.00 price target on HB Fuller (NYSE: FUL).

The analyst commented: "Macro pressures catching up. While cost optimization efforts, acquisition contributions, and strong demand in Construction Adhesives do provide a silver lining for the FUL shares, the combination of formulaic pricing pressures due to contractual pass through mechanisms and a challenging macroeconomic backdrop are powerful offsets. With earnings below Street expectations and guidance adjusted lower, we believe that the 3FQ report will pressure the shares even despite rangebound performance throughout the year (FUL -1% YTD / S&P 500 +20%)."

For an analyst ratings summary and ratings history on HB Fuller click here. For more ratings news on HB Fuller click here.

Shares of HB Fuller closed at $80.63 yesterday.

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