Imperial Capital Upgrades Quanex Building Products (NX) to Outperform
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Price: $20.28 +2.84%
Rating Summary:
5 Buy, 3 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Rating Summary:
5 Buy, 3 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
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Imperial Capital upgraded Quanex Building Products (NYSE: NX) from In-Line to Outperform with a price target of $21.00.
The firm comments, "We believe the recent pullback in NX stock presents a buying opportunity for investors. Overall, we remain positive on Quanex’s exposure to the new housing market, which could post another year of 20%+ growth and the company's efforts to return the Aluminum Sheet Products business to profitability. Furthermore, we expect the remodel market to recover in 2013, which should provide low single digit organic growth in window shipments."
For an analyst ratings summary and ratings history on Quanex Building Products click here. For more ratings news on Quanex Building Products click here.
Shares of Quanex Building Products closed at $16.10 yesterday.
The firm comments, "We believe the recent pullback in NX stock presents a buying opportunity for investors. Overall, we remain positive on Quanex’s exposure to the new housing market, which could post another year of 20%+ growth and the company's efforts to return the Aluminum Sheet Products business to profitability. Furthermore, we expect the remodel market to recover in 2013, which should provide low single digit organic growth in window shipments."
For an analyst ratings summary and ratings history on Quanex Building Products click here. For more ratings news on Quanex Building Products click here.
Shares of Quanex Building Products closed at $16.10 yesterday.
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