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UPDATE: Jefferies Initiates Coverage on USG Corporation on Positive Outlook

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In a report published Thursday, Jefferies analyst Philip Ng initiated coverage on USG Corporation (NYSE: USG) with a Buy rating and $34.00 price target.

In the report, Jefferies noted, “We are initiating coverage on USG with a Buy, driven by our positive view on the industry dynamics of wallboard and ceilings. Benefiting from its cost takeout and pricing power, incremental margins in wallboard are at 60% and should reaccelerate earnings. Further, with FCF conversion at 100%, we believe USG should be able to unlock shareholder value.”

USG Corporation closed on Wednesday at $27.73.

Latest Ratings for USG

DateFirmActionFromTo
Jul 2014JP MorganMaintainsNeutral
Jul 2014BarclaysMaintainsEqual-weight
Jul 2014Credit SuisseMaintainsNeutral

View More Analyst Ratings for USG
View the Latest Analyst Ratings

Posted-In: Jefferies Philip NgAnalyst Color Initiation Analyst Ratings

 

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