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Fortune Brands FO (news,
chart,
quote) - FO volatility at 26 as shares rally on Buyback
FO is recently up $5.23 to $69.11. FO announced a 15 million share repurchase program, approximately 10 of FO shares outstanding. BAMO has a 12-month price target of $80 on FO. FO over all option implied volatility of 26 is near its 26-week average of 24 according to Track Data, suggesting non-directional price fluctuations.
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