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Fly News Breaks for March 19, 2015
USG
Mar 19, 2015 | 07:27 EDT
Jefferies views yesterday's sell-off in shares of USG following news that several homebuilders have filed a lawsuit against USG and seven other wallboard manufacturers for price fixing as overblown. It notes USG does not expect the additional claims to be materially higher than its previous settlement. Jefferies also points out the lawsuit is not a new matter as its part of the initial suit that was filed back in 2012 when the industry eliminated job quotes. The firm believes the latest lawsuit will not impact the industry's ability to implement the current or future price increases. It has a Buy rating on USG with a $32 price target.
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