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Fly News Breaks for August 11, 2017
Aug 11, 2017 | 09:03 EDT
Wedbush analyst Jay McCanless blames Masonite's (DOOR) Q2 miss on " a one-time issue, the acceleration of the new Home Depot (HD) program, and ...overly aggressive demand forecasting." The analyst thinks that Masonite will correct the logistical problems causing the Home Depot issue, but he believes that the aggressive demand forecasting could weigh on the company's gross margins through fiscal 2017 and fiscal 2018. He cut his price target on the shares to $70 from $85 but keeps a Buy rating on the stock.
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