Evercore ISI Upgrades Armstrong World Industries (AWI) to Outperform

Evercore ISI analyst Stephen Kim upgraded Armstrong World Industries (NYSE: AWI) from In Line to Outperform with a price target of $200.00 (from $203.00).

The analyst commented, "Overall, Armstrong posted solid top-line results, with a bottomline miss caused by some one-time items in Architectural Specialties. Management described the market as flattish in the quarter but noted that they are starting to see signs of better discretionary demand; however, they remain cautious given the uncertain macro and geopolitical backdrop. That said, we believe that the company is well positioned given its modest exposure to tariff and input costs, which it has been able to offset via pricing and productivity. Furthermore, it has a proven growth algorithm with strong AUV in Mineral Fiber, healthy expansion and scaling in Architectural Specialties, and with innovation further supporting growth. We see the full-year guidance as achievable, including the back half sales and EBITDA acceleration, and believe the stock’s pullback today (-5%) is overdone. Considering all these factors, we take our rating higher to Outperform from InLine."

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 $177.76 yesterday.

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