Imperial Capital Reiterates Outperform on Quanex (NX) Ahead of 3Q
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Imperial Capital reiterated an Outperform rating and $25.00 price target on Quanex Building Products (NYSE: NX) ahead of the company's 3Q earnings report. Quanex is scheduled to report 3Q16 earnings after market close on 9/6/16.
Analyst Scott Levine commented, "We are maintaining our Outperform rating on NX shares and our one-year price target of $25. Our price target is 27% above the recent share price. We expect NX to benefit from growth in window and cabinet component demand, driven by housing construction and repair and remodeling (R&R) activity. We expect NX’s earnings growth to accelerate over the next few years, driven by recent acquisitions, continued improvement in the vinyl profile business, and reduced interest expense."
Shares of Quanex Building Products closed at $19.65 yesterday.
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