Deutsche Bank Starts Forterra (FRTA) at Hold

November 14, 2016 8:02 AM EST
Get Alerts FRTA Hot Sheet
Price: $19.27 +0.63%

Rating Summary:
    5 Buy, 2 Hold, 0 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 23 | Down: 34 | New: 34
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Deutsche Bank initiated coverage on Forterra (NASDAQ: FRTA) with a Hold rating and a price target of $20.

Analyst Nishu Sood said, "Infrastructure spending has broad bi-partisan support, including an acceptance speech mention by President-elect Trump. Forterra has one-third exposure to infrastructure spending on highways and water pipes so it is well-positioned to benefit from the infrastructure theme. However, we see volatility in the path to seeing sales/earnings benefits to Forterra. There are risks on recent acquisitions, slowing trends in commercial, weather/project volatility and the potential for sluggish translation of growth themes to revenues, particularly on the water pipe side. We think these factors may lead to volatility in reported results and thus initiate with a Hold rating and a $20 price target."

For an analyst ratings summary and ratings history on Forterra click here. For more ratings news on Forterra click here.

Shares of Forterra closed at $18.41 yesterday.

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