Loop Capital starts Jeld-Wen at Hold, sees outlook as balanced

Loop Capital analyst Jeffrey Stevenson initiated coverage of Jeld-Wen with a Hold rating and $22 price target. The stock a represents a “unique opportunity” within the firm’s building products coverage given its ability to unlock shareholder value through low hanging restructuring initiatives that were neglected by previous management teams and should also benefit from increased single-family new construction demand moving forward as mortgage rates have come off from peak levels and homebuilder optimism continues to improve, the analyst tells investors in a research note. Loop Capital adds however that it sees risk/reward outlook at current valuation levels as balanced.