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Fly News Breaks for February 13, 2020
JELD, DOOR
Feb 13, 2020 | 08:53 EDT
Ahead of next week's Q4 earnings releases, JPMorgan analyst Michael Rehaut reiterates his preference for Overweight-rated Masonite (DOOR) to Neutral-rated Jeld-Wen (JELD). Recent survey work and monitoring of online Home Depot (HD) prices point to a largely successful effort by Masonite on its 15% average price increase for North America, effective February 3, Rehaut tells investors in a research note. As a result of increased confidence in the success of the company's price increase, the analyst believes "solid upside potential" exists to his 2020 EBITDA estimates for Masonite. Jeld-Wen, by contrast, has less upside potential given its seemingly smaller price increase and lower exposure to the North American door industry overall, says the analyst. Rehaut raised his price target for Masonite to $90 from $84 and keeps a $24.50 price target on Jeld-Wen.
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