Deutsche Bank analyst Joe Ahlersmeyer downgraded Armstrong World to Hold from Buy with a price target of $77, down from $91. The analyst reduced estimates to reflect weaker volumes and the company’s near-term mix shift away from discretionary and higher-value product offerings.
Published first on TheFly
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- Armstrong World price target lowered to $91 from $99 at Deutsche Bank
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- Armstrong World Industries Reports Fourth-Quarter and Full Year 2022 Results
- Armstrong World sees FY23 adjusted EPS $4.80-$5.05, consensus $5.25
- Armstrong World reports Q4 adjusted EPS $1.08, consensus $1.12
