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Fly News Breaks for December 17, 2019
SUM, SKY, OC, KBH
Dec 17, 2019 | 07:50 EDT
RBC Capital analyst Mike Dahl kept his Outperform rating and raised his price target on KB Home (KBH) to $38 from $36, Owens Corning (OC) to $77 from $69, Skyline (SKY) to $39 from $34 and Summit Materials (SUM) to $28 from $26 as part of a broader research note on Homebuilders & Building Products. The analyst sees these companies as his "top ideas" in the Builders, Products, Distributors, and Aggretates sectors, noting that while housing trends remain healthy, he is less positive on the Builders and "more selective" on Products. Dahl further states that while demand and order growth will remain "solid" in 2020, pricing may improve "only modestly", requiring interest rate sensitivity in Builders and "selectivity and nimbleness" in Products. The analyst maintains a positiave stance on the Aggregates, expecting the tailwinds from public spending to offset and deceleration on the private side.
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