UPDATE: Masonite International (DOOR) PT Lowered to $140 at Wedbush

Wedbush analyst Jay McCanless lowered the price target on Masonite International (NYSE: DOOR) to $140.00 (from $145.00) while maintaining a Outperform rating.

The analyst comments "We are lowering our PT to $140 from $145. For 2022, Masonite broadly expects mid-teen percentage pricing growth in the North American Residential (NAR) segment with a small increase in volumes potentially offset by a flat to down volume year in the Architectural segment and in the Europe segment. Covid related absenteeism spiked 250% in January 2022 which is a primary catalyst for management's expectation for sequentially flat AEBITDA from F4Q21 to F1Q22. Since January, covid issues have subsided and production is apparently back to normal in the NAR plants. Due to the covid spike and ongoing supply chain issues, Masonite expects the projected FY22 sales and AEBITDA growth may be weighted to the second half of FY2."

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