Fly News Breaks for January 6, 2020
Jan 6, 2020 | 08:10 EDT
Jefferies analyst Philip Ng downgraded Masco to Hold from Buy with a price target of $51, down from $55, as he sees no imminent catalyst and limited upside to earnings. He we prefers stocks with "more cyclical torque and head room for multiple expansion" in the current trading environment, Ng added. The phase 1 trade deal should reduce the risk of further demand destruction in the opening price point categories, but Ng believes Masco's margins should be "flattish" absent a larger trade deal, he also said.
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