Alcoholic beverage, golf equipment, and security products maker Fortune Brands, Inc. (FO) on Thursday saw its price target lowered by analysts at Goldman Sachs.

The firm maintained its “Neutral” rating on FO but lowered its price target from $63 to $61, suggesting a smaller 5% upside to the stock’s Wednesday closing price of $58.11.

Fortune Brands shares, which have fallen 3.6% year-to-date, were unchanged in premarket trading Thursday.

The Bottom Line
Shares of Fortune Brands (FO) have a 1.31% dividend yield, based on last night’s closing stock price of $58.11. The stock has technical support in the $52-$54 price area. If the shares can firm up, we see overhead resistance around the $60-$62 price levels.

Fortune Brands, Inc. (FO) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.3 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks, as well as a detailed explanation of our ratings system here.