Buckingham analyst Megan McGrath downgraded Masco to Neutral from Buy and lowered her price target to $46 from $49, saying that given Masco's muted three-year pro forma outlook provided at its investor day on Tuesday, she believes that much further upside to the shares would require a belief that 2021 guidance is meaningfully conservative. McGrath says she isn't willing to make this assumption today, though this could turn out to be the case.

Loop Capital lowered the firm's price target on Masco to $76 from $79 and keeps a Hold rating on the shares. The company reported a solid beat on the back of stronger-than-expected plumbing margins, but while its FY24 guidance was only reiterated, with no imminent negative change in trend expected in Q2, this outlook is "potentially conservative", the analyst tells investors in a research note. Masco is executing well despite weak volumes, but the firm still wants better visibility as the margin for error with investors has narrowed, Loop added.