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Fly News Breaks for May 9, 2016
DOOR
May 9, 2016 | 09:49 EDT
Stephens analyst Trey Grooms says Masonite reported a "nice" Q1 beat across the board on strong North American sales growth and "impressive" margin expansion, and named the company as new Best Idea in the Building Materials space. The company kept its 2016 guidance ranges and 2018 targets unchanged, which Grooms sees as due to conservatism. The analyst reiterates an Overweight rating on the stock and raised his price target on the shares to $86 from $72.
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