Truist analyst Keith Hughes raised the firm’s price target on Armstrong World to $131 from $95 and keeps a Buy rating on the shares after its Q4 earnings beat and guidance raise. Stronger than expected margin performance in both segments drove gains in the quarter, while the outlook calls for both revenue and EBITDA growth in all areas, despite a slow economic background, the analyst tells investors in a research note. Armstrong World shares have moved up for five months now as the worst case demand scenario has not developed and the stock has re-rated, the firm added.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See today’s best-performing stocks on TipRanks >>
Read More on AWI:
- Armstrong World Q4 and Full Year 2023 Financial Results Webcast
- Armstrong World sees FY24 adjusted EPS $5.60-$5.90, consensus $5.61
- Armstrong World reports Q4 adjusted EPS $1.22, consensus $1.04
- Armstrong World Declares Quarterly Dividend, Signals Financial Health
- Armstrong World price target raised to $110 from $88 at BofA
