UBS Slaps Sell Rating on Masco (MAS), Maintains $8 Target
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Shares of Masco (NYSE: MAS) have fallen 6% today following a downgrade from an analyst over at UBS, who believes the stock's 177% surge since early-March is overdone.
The UBS analyst lowered his investment rating on Masco shares from Neutral to the dreaded Sell, while maintaining an $8 price target. The analyst said, "We believe this outperformance reflects investors' increased optimism surrounding the improved sales pace in the housing market. That said, we don't believe there has been a sustainable improvement in fundamentals and, as such, we expect housing activity to slow again in the near term."
With shares of Masco trading around $10.10 today, UBS' price target represents potential downside of about 20.8% from current levels.
To see all the analyst calls specifically on shares of Masco, visit our Analyst Ratings page.
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