Jefferies Cuts Price Target on Masco Corp. (MAS) to $39

October 26, 2016 10:02 AM EDT
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Price: $31.98 +0.16%

Rating Summary:
    20 Buy, 3 Hold, 0 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 30 | Down: 30 | New: 23
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Jefferies maintained a Buy rating on Masco Corp. (NYSE: MAS), and cut the price target to $39.00 (from $42.00), following the company's in-line 3Q earnings report.

Analyst Philip Ng commented, "The negative impact from a warranty reserves aside, MAS reported an in-line quarter with mid SD core sales growth in cabinets (ex-product rationalization) and plumbing. We believe the 9.5% sell off (S&P: -0.38%) is over done as fears around a weaker consumer were magnified by poor results from other building products manufacturers, and we believe MAS is showing good resilience despite some choppiness in the macro housing trends."

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

Shares of Masco closed at $30.38 yesterday.

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