JPMorgan analyst Michael Rehaut upgraded Jeld-Wen to Neutral from Underweight with a $9.50 price target. The stock’s relative underperformance in 2022 largely reflects the company’s below average fundamental performance between 2019 and 2022, Rehaut tells investors in a research note. The analyst says Jeld-Wen’s valuation reflects his outlook for a "still challenged fundamental performance" over the next two years.
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