Building Product Stocks Could See Upside as Hurricane Michael Strengthens - MKM
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Price: $94.56 +1.22%
Rating Summary:
15 Buy, 13 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 17
Rating Summary:
15 Buy, 13 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 17
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MKM Partners analyst Megan McGrath said with the upgrade of Hurricane Michael's intensity to a Category 4 storm, some building products stocks could perform positively this morning.
McGrath expects potential positive reactions from Beacon (NASDAQ: BECN) and Owens Corning (NYSE: OC), as high winds from hurricanes would be expected to generate re-roofing demand. In addition, Builders First Source (NASDAQ: BLDR) and BMC Holdings (NASDAQ: BMCH) could also benefit from the distribution of wood construction products when re-building occurs.
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