RBC Capital analyst Mike Dahl lowered the firm’s price target on Jeld-Wen (JELD) to $8 from $9 and keeps an Underperform rating on the shares. The firm is updating its model to reflect the sale of Towanda, noting that it sees further meaningful downside potential to the stock, the analyst tells investors in a research note. The loss of Jeld-Wen’s largest and most profitable door asset is likely to fuel additional competition over time, RBC added.
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Read More on JELD:
- Jeld-Wen entered into asset purchase agreement for sale of Towanda for $115M
- Jeld-Wen price target lowered to $14 from $17 at B. Riley
- Jeld-Wen price target lowered to $15 from $19 at UBS
- Jeld-Wen price target lowered to $9 from $13 at RBC Capital
- Jeld-Wen price target lowered to $10 from $13 at Barclays