Deutsche Bank Starts Forterra (FRTA) at Hold
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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."
Shares of Forterra closed at $18.41 yesterday.
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