Masonite price target lowered to $87 from $106 at RBC Capital

RBC Capital analyst Mike Dahl lowered the firm’s price target on Masonite to $87 from $106 and keeps a Sector Perform rating on the shares after its Q3 earnings miss. The analyst is also citing increasing volume pressures and less favorable price/cost looking to Q4 and FY24, which more than offset the contribution from the recent Fleetwood deal, adding that while the valuation on the stock remains inexpensive, volume headwinds in North America and Europe pose risks.