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Armstrong World price target lowered to $99 from $113 at Deutsche Bank
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Armstrong World price target lowered to $99 from $113 at Deutsche Bank

Deutsche Bank analyst Joe Ahlersmeyer lowered the firm’s price target on Armstrong World to $99 from $113 and keeps a Buy rating on the shares. The analyst now has increased conviction in his view that residential new construction can "remain surprisingly resilient" in 2023. He urges investors to "drop past rules of thumb" around starts, and derive forecasts for building product volumes from completions instead. With interest rate risk "now seeming to drift favorably," Ahlersmeyer is "far more constructive" on stocks with new construction exposure.

Published first on TheFly

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