Stanley Black & Decker (SWK) expects to double its revenue in six years to $22 billion annually, according to the CEO who addressed investors Tuesday.
The toolmaker's CEO, James Loree, told listeners that "you'll see we have a clear vision for where to take this company even as we face times that will undoubtedly be characterized by volatility and exponential technological change," he said.
Loree said Stanley could meet the aggressive growth target by growing revenue between 4% and 6% over the next six years, as well as through targeted acquisitions worth between $6 billion and $8 billion.
Stanley has already made some recent purchases that foreshadow that strategy, buying both Newell Rubbermaid and the iconic Craftsman line of tools The tools and storage, commercial electronic security and engineered fastening systems manufacturer will achieve growth by boosting sales by 4percent to 6 percent and adding acquisitions of between $6 billion and $8 billion, he said.
On May 9,analysts at Imperial Capital raised the price target on Stanley Black & Decker shares to $148 from $125 and kept an in-line rating on the firm.
Stanley shares fell 0.5%, or 61 cents, on Tuesday to $136.82.