Jefferies Cuts Price Target on Masco Corp. (MAS) to $39
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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."
Shares of Masco closed at $30.38 yesterday.
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Create E-mail Alert Related CategoriesAnalyst Comments, Analyst EPS Change, Analyst PT Change
Related EntitiesJefferies & Co, Standard & Poor's, Earnings
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