UPDATE: Williams Financial Group Initiates Ply Gem at Buy on Substantial Growth Potential
In a report published Tuesday, Williams Financial Group analyst David N. Williams initiated coverage on Ply Gem (NYSE: PGEM) with a Buy rating and $28.00 price target.
In the report, Williams Financial Group noted, “Our core investment thesis is centered on accelerating home improvement activity. Although repair and remodel has remained largely stagnant while the broader housing industry has recovered, after 19 consecutive months of recovery, we believe R&R is poised for substantial growth. Pent up demand, driven by delayed home improvements should be the primary driver with additional upside provided by existing home purchase improvement activity.”
Ply Gem closed on Monday at $22.71.
© 2014 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.