Barclays Bumps Up Price Target For Several Multi-Industry Companies

Barclays analyst Julian Mitchell adjusts price targets for several multi-industry companies.

• Mitchell expects inflation to boost sales for multi-industry companies in Q4, but he sees margin pressure in the near term. 
• The analyst's 2022 earnings estimates are slightly above consensus, and he thinks Street numbers need to be more backend loaded. 
• The stronger U.S. dollar is also an "emerging headwind," says Mitchell.
• The analyst raised Johnson Controls International PLC's JCI price target to $86 (an upside of 6%) from $85 and kept an Overweight rating on the shares. 
• The analyst lowered 3M Co MMM price target to $177 (a downside of 2%) from $182 and kept an Underweight rating on the shares. 
• The analyst raised Stanley Black & Decker, Inc. SWK price target to $232 (an upside of 20%) from $231 and kept an Overweight rating on the shares.
• The analyst raised SPX Flow Inc's FLOW price target to $86 (a downside of 1%) from $75 and kept an Equal Weight rating on the shares.
• The analyst raised Regal Rexnord Corp's RRX price target to $204 (an upside of 16.4%) from $200 and kept an Overweight rating on the shares.
• The analyst raised Ingersoll Rand Inc's IR price target to $74 (an upside of 21.8%) from $70 and kept an Overweight rating on the shares.
• The analyst raised Emerson Electric Co's EMR price target to $99 (an upside of 3.5%) from $98 and kept an Equal-Weight rating on the shares.
• The analyst raised Dover Corp's DOV price target to $206 (an upside of 13%) from $185 and kept an Overweight rating on the shares.
• The analyst raised APi Group Corp's APG price target to $30 (an upside of 13.7%) from $24 and kept an Overweight rating on the shares.
• Price Action: JCI shares are higher by 2.27% at $81.15, MMM higher by 1.71% at $180.79, SWK higher by 3.74% at $192.87, FLOW higher by 0.50% at $86.88, RRX higher by 2.71% at $175.42, IR higher by 1.9% at $60.77, EMR higher by 4.17% at $95.59, DOV higher by 2.39% at $182.60, and APG higher by 2.49% at $26.39 on the last check Tuesday.