Griffon initiated with a Buy at Deutsche Bank

Deutsche Bank analyst Joe Ahlersmeyer initiated coverage of Griffon with a Buy rating and $65 price target. Griffon is “a singularly-focused portfolio of strong brands spanning two segments” that the firm expects to drive significant value for shareholders over the coming years, the analyst tells investors. Griffon investors can anticipate “a dual track of positive momentum over the coming years,” with a high-quality, high-margin garage door business and “a compelling improvement story” in its global consumer and professional products businesses, the analyst added.