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UPDATE: Deutsche Bank Initiates Ply Gem at Hold on Solid Growth Prospects, But Overly High Expectations

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In a report published on Tuesday, Deutsche Bank analyst Nishu Sood initiated coverage on Ply Gem (NYSE: PGEM) with a Hold rating and a $21 price target.

In the report, Deutsche Bank stated, "Plygem has the highest new residential construction exposure of any non- distribution building products company, a seasoned management team and strong market positions; overall, this places the company well to benefit from continued housing recovery. However, we think earnings growth expectations are too high, particularly for operating leverage in 2014 and 2015. In our view this leaves the stock sensitive to disappointments driven by factors such as materials/labor costs, weather, Canadian exposure and mortgage rate sensitivity."

Ply Gem closed on Monday at $19.15.

Latest Ratings for PGEM

Oct 2016KeyBancDowngradesOverweightSector Weight
Sep 2016RBC CapitalInitiates Coverage onOutperform
Aug 2016JP MorganMaintainsNeutral

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Posted-In: Deutsche Bank Nishu SoodAnalyst Color Initiation Analyst Ratings


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