In a report published on Tuesday, J.P.Morgan analyst Michael Rehaut initiated coverage on Ply Gem Holdings, Inc PGEM with an Overweight rating and a $26 price target.
In the report, J.P.Morgan noted, "Overall, we view PGEM – which maintains a number one 36% share in vinyl siding and a number two 20% share in vinyl and aluminum windows for U.S. new residential construction – as well positioned to demonstrate significant leverage to the U.S. housing recovery, given its 39% exposure of 2012 pro forma sales to U.S. new residential construction, above our universe's 13% average."
Ply Gem Holdings, Inc closed on Monday at $20.14.
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