Bank of America Merrill Lynch Maintains Buy on Fortune Brands

Bank of America Merrill Lynch is out with its report today on Fortune Brands FO, maintaining Buy. In a note to clients, Bank of America Merrill Lynch writes, "While the housing and home-related product markets have been challenging, we are encouraged by what appears to be near bottoming sentiment towards the segment and an ability for Fortune Brands to win share with its key brands. Its streamlined operations should allow for more margin leverage when markets turn. High unemployment and challenging on premise trends suggest spirits may be slower to turn, but recent share gains have been noticeable." Bank of America Merrill Lynch maintains a $73 PO on FO. Shares of FO closed Friday at $62.51.