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Armstrong World downgraded to Hold from Buy at Loop Capital
The Fly

Armstrong World downgraded to Hold from Buy at Loop Capital

Loop Capital analyst Garik Shmois downgraded Armstrong World to Hold from Buy with a price target of $75, down from $98. The analyst is citing softening nonresidential construction datapoints and few company-specific catalysts limiting upside in the stock. While he has been "incrementally more constructive" on housing focused names, Armstrong World has more non-residential exposure, and investor concerns of a nonresidential construction pullback following the recent housing slowdown is likely to continue to weigh on sentiment, Shmois tells investors in a research note.

Published first on TheFly

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