Armstrong World price target lowered to $90 from $95 at Truist

Truist lowered the firm’s price target on Armstrong World to $90 from $95 but keeps a Buy rating on the shares after its Q4 earnings miss and below-consensus FY23 guidance. The company is assuming down markets this year will cause a mid-single-digit volume decline in mineral fiber and decelerating A/S sales, though its "biggest differentiator" is the expectation that 2023 EBITDA will grow on strong price and sales mix actions in mineral fiber despite the market outlook, the analyst tells investors in a research note.