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UPDATE: Goldman Sachs Initiates Coverage on Apogee Enterprises as Shares as Poised to Benefit from Recovery

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In a report published Tuesday, Goldman Sachs analyst Samuel H. Eisner initiated coverage on Apogee Enterprises (NASDAQ: APOG) with a Conviction List-Buy rating and $38.00 price target.

In the report, Goldman Sachs noted, “We initiate coverage on APOG at CL-Buy with a $38, 12-month price target. In our view, shares of APOG are poised to benefit over the medium-term alongside a recovery in nonresidential construction. We view the company's improving cost structure and emphasis on profitable growth as accelerants of this exposure and expect incremental margin to benefit materially. Further, we note APOG has attractive portfolio diversification characteristics. The LSO segment (53% of EBIT) provides ballast to earnings and cash flow, and has exhibited consistent performance over a 10-year period.”

Apogee Enterprises closed on Monday at $29.63.

Latest Ratings for APOG

DateFirmActionFromTo
May 2020Sidoti & Co.MaintainsNeutral
Dec 2019DA DavidsonMaintainsNeutral
Jun 2018DA DavidsonDowngradesBuyNeutral

View More Analyst Ratings for APOG
View the Latest Analyst Ratings

 

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Posted-In: Goldman Sachs Samuel H. EisnerAnalyst Color Initiation Analyst Ratings

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ALHCMorgan StanleyInitiates Coverage On36.0
ALHCRaymond JamesInitiates Coverage On30.0
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