Masco price target raised to $70 from $58 at Wells Fargo

Wells Fargo analyst Sam Reid raised the firm’s price target on Masco to $70 from $58 and keeps an Overweight rating on the shares after meeting with CEO Keith Allman and new(ish) CFO Rick Westenberg earlier today. While it was “more of a social call,” Wells still sensed optimism. Masco has justifiably run but at 15-times 2024 price to earnings, the firm sees upside.