Jun. 13 at 8:57 PM
$WHR Bank of America upgrades Whirlpool
Bank of America sees “diminishing competitive headwinds” as a potential boon for Whirlpool
stock.
The firm upgraded the home appliance stock to neutral from underperform on Friday, and upped its price target to
$94 per share from
$68. BofA’s forecast implies about 7% upside from Thursday’s
$87.56 close.
Analyst Rafe Jadrosich also said the company is well positioned to navigate President Donald Trump’s tariffs, which were recently widened to include home appliance imports. The analyst said that 80% of Whirlpool’s U.S. sales are manufactured domestically, with 96% of the steel used in its products sourced from the U.S.