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UPDATE: Deutsche Bank Lowers PT on Ply Gem Following 2Q Results Miss, Challenges Ahead

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Deutsche Bank Upgrades Ply Gem On 'Window Of Opportunity'
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In a report published Monday, Deutsche Bank analyst Greg Poole reiterated a Hold rating on Ply Gem Holdings (NYSE: PGEM), but lowered the price target from $21.00 to $18.00.

In the report, Deutsche Bank noted, “Poor first post-IPO quarter driven by old and new concerns; maintain Hold. When we initiated coverage of Ply Gem in early July, we cited too high expectations and a potential for disappointment. But even we didn't expect the disappointment to come so soon. 2Q's miss wasn't that large; however, the nature of the miss devastated longer-term expectations. Weather and cost concerns that were supposed to have been factored in drove downside variance, while management's tone on future trends was notably more dour than previously. Without guidance, and with rate concerns growing, we think it could take some time for this stock to get its legs back.”

Ply Gem Holdings closed on Friday at $15.95.

Latest Ratings for PGEM

DateFirmActionFromTo
Aug 2015Imperial CapitalMaintainsOutperform
Aug 2015Deutsche BankMaintainsBuy
Jul 2015Deutsche BankUpgradesHoldBuy

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Posted-In: Deutsche Bank Greg PooleAnalyst Color Price Target Analyst Ratings

 

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