Armstrong World Industries (AWI) Price Target Raised to $65 at Goldman Sachs
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Rating Summary:
8 Buy, 13 Hold, 2 Sell
Rating Trend: Up
Today's Overall Ratings:
Up: 13 | Down: 10 | New: 11
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Goldman Sachs maintained a Buy rating on Armstrong World Industries (NYSE: AWI) and raised its price target to $65.00 (from $60.00).
Analyst Eli Hackel said, "We recently met with Armstrong senior management at its headquarters. We reiterate our Buy with a view that active portfolio management combined with business improvement should drive share outperformance. We raise our 12-month price target to $65 from $60 as management indicated the strategic alternatives of its European flooring business will hopefully be completed by year-end, US GDP (which has a correlation with broad demand) should remain in 3+% territory (we would note solid ISM and construction spending prints today) and wood prices have stabilized, which could indicate an upside to wood margins."
For an analyst ratings summary and ratings history on Armstrong World Industries click here. For more ratings news on Armstrong World Industries click here.
Shares of Armstrong World Industries closed at $58.15 yesterday.
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