Masco downgraded to Neutral from Outperform at Baird

Baird analyst Timothy Wojs downgraded Masco (MAS) to Neutral from Outperform with an unchanged price target of $70. The firm says it thesis on the shares has largely played out. Masco now trades at a premium to its mid-cap peers, reflecting the company’s solid execution, market share gains and capital allocation, the analyst tells investors in a research note. Baird does not see a major catalyst to move the stock higher. As such, it views Masco’s risk/reward as balanced at current levels.