UPDATE: MKM Partners Upgrades Masco (MAS) to Buy

October 26, 2016 7:04 AM EDT
Get Alerts MAS Hot Sheet
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
Trade MAS Now!
Join SI Premium – FREE

Get inside Wall Street with StreetInsider Premium. Claim your 2-week free trial here.
(Updated - October 26, 2016 10:51 AM EDT)

MKM Partners upgraded Masco (NYSE: MAS) from Neutral to Buy with a price target of $36. Analyst Megan McGrath sees opportunity in a recent pullback.

"We believe that yesterday’s large pullback in the shares (shares were down 10%) presents a compelling buying opportunity for MAS, especially given that the company remains confident in its FY17 EPS guidance of $1.80. While 3Q results were certainly messy (with missteps in Windows and lower than expected margins in Cabinets), the company’s two largest businesses (Plumbing and Paint) continue to execute with excellent margins. We had been somewhat cautious on MAS heading into 3Q earnings, given 2Q’s large beat and a premium valuation of the shares. However, we do not believe that the repair/remodel cycle is over (as yesterday’s pullback seems to imply) and we expect MAS shares to see a healthy recovery from these levels," said the analyst.

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.

Serious News for Serious Traders! Try StreetInsider.com Premium Free!

You May Also Be Interested In

Related Categories

Analyst Comments, Analyst EPS View, Upgrades

Related Entities


Add Your Comment