Latham Group downgraded to Equal Weight from Overweight at Barclays

Barclays analyst Matthew Bouley downgraded Latham Group to Equal Weight from Overweight with a price target of $5, down from $7. 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.