Jeld-Wen initiated with a Perform at Oppenheimer

Oppenheimer analyst Tyler Batory initiated coverage of Jeld-Wen with a Perform rating and no price target. With seven CEOs in 11 years and substantial reinvestment likely needed in core operations, the firm views Jeld-Wen as “a company still in transition,” the analyst tells investors. While leverage is improved and its end-market exposure is “attractive,” the firm thinks the current multiple offers “evenly balanced risk-reward,” the analyst added.