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Fly News Breaks for January 13, 2017
PGEM
Jan 13, 2017 | 09:39 EDT
As previously reported, Stephens analyst Trey Grooms downgraded Ply Gem to Equal Weight from Overweight, with a $17 price target. The analyst believes builders are feeling the heat from cost increases on the land and labor side, which will result in more push back on announced price increases than in recent years. Further, Grooms believes all of the focus on smaller, more affordable housing units targeting first-time home buyers will be a headwind to growth relative to the market.
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