UPDATE: Credit Suisse Initiates Coverage On NCI Building Systems On Significant Runway

In a report published Friday, Credit Suisse analyst Michael Dahl initiated coverage on

with an Outperform rating and $19.00 price target. In the report, Credit Suisse noted, "We anticipate significant EBITDA growth for NCS over the next two years based further footprint and sales optimization, increased exposure to fast-growing insulated metal panels, acceleration in non-residential construction, and improved pricing dynamics. Our $19 TP is based on 11x 2016 EBITDA." NCI Building Systems closed on Thursday at $16.92.