Fortune Brands (NYSE:FO) Overvalued Says JPMorgan (NYSE:JPM)

News of Fortune Brands (NYSE:FO) being split into three separate companies prompted JPMorgan (NYSE:JPM) to comment on the company, saying they see them as being overvalued in relationship to their peers.

The analyst said when analyzing the company as sum-of-parts, they see them in the most positive light as being fairly valued, but in reality are probably overvalued in his estimation.

JPMorgan maintains their "Neutral" rating on Fortune Brands, which closed Wednesday at $61.76, up by $0.61, or 1 percent. They have a price target of $55 on them.