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- Apogee Enterprises Inc APOG has been downgraded to Hold from Buy, and the price target lowered to $47 from $54 by Craig-Hallum analyst Eric Stine.
- According to the analyst, Apogee used to trade at a significant discount to building materials comps but now trades substantially in-line.
- Related: Apogee Enterprises Q4 Results Surpass Estimates, Provides FY23 Guidance
- Stine says he is stepping to the sidelines amid the current valuation, headwinds, and uncertainty about the potential impact of higher interest rates on projects.
- Price Action: APOG shares are trading higher by 0.02% at $45.12 on the last check Friday.
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