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Fly News Breaks for January 22, 2020
MLM, MWA, VMC, AWI, TILE
Jan 22, 2020 | 06:25 EDT
Nomura Instinet analyst Michael Wood names Interface (TILE) his top pick in Americas Building Products for the Q4 reporting season. The analyst's Commercial Current Index increased two points to 53.0, indicating growth in November after "hovering around flattish territory" from early summer through October. Growth appears to be reaccelerating given stabilization in trade and the subsequent rally in equity markets, Wood tells investors in a research note. The analyst views Interface's set-up most favorably "given low investor sentiment, improving organic growth, and internally-driven margin initiatives." He also expects below-consensus initial 2020 frameworks from several commercially-exposed companies, including Armstrong World (AWI), Vulcan Materials (VMC) and Mueller Water (MWA). Wood adds that data continues to support his Buy ratings on Martin Marietta (MLM) and Vulcan.
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