Canaccord Genuity Maintains a 'Buy' on Headwaters (HW); Raising Numbers on Lower Leverage

Canaccord Genuity maintains a 'Buy' on Headwaters (NYSE: HW) price target of $8.50 (from $6.50).

Analyst, John Quealy, said, "We maintain our rating, as we expect gradually improving construction market trends to help support P&L momentum. With contribution margins of 40%+, we find HW very well positioned to outperform in a housing/construction market recovery...Our F2012 rev/EBITDA/EPS estimates go to $623M/$92.2M/$(0.40) from $612.1M/$90M/$(0.45), while F2013 estimates improve to $653M/$100.2M/$0.04 from $631M/$97.0M/$(0.05)."

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

Shares of Headwaters closed at $6.25 yesterday.

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