Barclays analyst Matthew Bouley lowered the firm’s price target on Jeld-Wen to $9 from $10 and keeps an Equal Weight rating on the shares. The analyst has turned positive on the homebuilder subsector, saying valuations are already priced for a sharp housing recession. He’s now relatively more positive builders versus building products. Bouley sees a "once-in-a-cycle opportunity" to own the early-cycle outperformance phase of homebuilder stocks. The "time is now" for builders, and it is "too early" for building products, Bouley tells investors in a research note.
Published first on TheFly
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