MasterBrand price target raised to $18 from $17 at Loop Capital

Loop Capital raised the firm’s price target on MasterBrand to $18 from $17 and keeps a Buy rating on the shares. The company’s Q4 results “did not disappoint” expectations of stronger sales, while good cost control helped EBITDA margin also positively surprise, the analyst tells investors in a research note. Much of the expected 2024 sales and earnings recovery is back-half weighted, though the firm likes that the competitive environment and tradedown promotions have stabilized, Loop added.