UPDATE: Deutsche Bank Reiterates On Armstrong World Industries On Mixed Factors
In a report published Friday, Deutsche Bank analyst Nishu Sood reiterated a Buy rating on Armstrong World Industries (NYSE: AWI), but lowered the price target from $64.00 to $59.00.
In the report, Deutsche Bank noted, “Entering 2014, we expected commercial construction recovery to gain momentum during the year; instead, so far it has continued to sputter forward making only marginal progress. We do expect commercial construction recovery to continue but as an investment theme it is now more of a 2015 theme rather than one for 2014, in our view. There is still tremendous upside potential for Armstrong as commercial construction levels normalize; however, we are flattening out our recovery trajectory, reducing estimates and target price. The risk/reward of Armstrong's stock merits a Buy, but it will also require some patience from investors.”
Armstrong World Industries closed on Thursday at $48.68.
Latest Ratings for AWI
|Aug 2014||JP Morgan||Upgrades||Underweight||Neutral|
|Jul 2014||JP Morgan||Maintains||Underweight|
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