In a report published Friday, Wedbush analyst Al Kaschalk initiated coverage on Masonite International DOOR with an Outperform rating and $62.00 price target.
In the report, Wedbush noted, “With the North America residential door market now essentially a duopoly (the top 2 players each command 40% share), we believe pricing volatility is no longer dependent on economic activity, which should lead to price stability going forward. And with first steps taken on pricing, we believe Masonite shares are positioned to accelerate in 2H:CY14/CY15 as the company's advantageous market position benefits future price initiatives and incremental volumes from a recovery in residential housing and commercial starts/construction provide another leg to the incremental operating margin story.”
Masonite International Corp. closed on Thursday at $50.75.
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