Masonite price target lowered by $6 at Deutsche Bank, here’s why

Deutsche Bank analyst Joe Ahlersmeyer lowered the firm’s price target on Masonite to $115 from $121 and keeps a Buy rating on the shares. For building products, the firm again sees the year ahead favoring stock selection, and again recommends investors start 2024 with a positive bias toward residential construction exposure and the distributor business model. The analyst reiterates Top Picks TopBuild (BLD), Builders FirstSource (BLDR) and Core & Main (CNM), and adds Beacon (BECN) to Top Picks in recognition of consistent progress on its initiatives and a belief that the roofing category will continue to deliver in 2024.