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Fly News Breaks for February 19, 2019
NCS
Feb 19, 2019 | 07:57 EDT
DA Davidson analyst Brent Thielman downgraded NCI Building to Underperform and lowered his price target to $4 from $7.50. The analyst cites indications of slowing demand for housing products made in the company's recent Operational Update call, adding that while the "pocket of softness" could prove to be temporary, it implies forecasting challenges amid the company's Ply Gem merger and a "significant increase in debt". Given these issues, Thielman says there is risk of further downside in NCI Building shares.
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