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Fly News Breaks for May 14, 2015
HW
May 14, 2015 | 09:04 EDT
SunTrust says it is starting to see signs of a pickup in Headwaters' siding accessories business. The firm believes that a recovery in that business would drive margin expansion in its light building products unit which accoutns for 60% of its sales. The company's Fly Ash business, which represents the other 40% of its sales, is also beginning to recover, adds SunTrust, which expects the company's multiple and earnings to rise. It raised its price target on the name to $25 from $22 and keeps a Buy rating on the shares.
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