Worthington price target raised to $56 from $50 at Goldman Sachs

Goldman Sachs analyst Susan Maklari raised the firm’s price target on Worthington to $56 from $50 but keeps a Sell rating on the shares. The firm is turning “more encouranged” by the company’s expansion of distribution channels in Consumer Products and the new product intros in Building Products, as well as a strong execution at WAVE against a steady non-residential repair-and-remodel outlook, the analyst tells investors in a research note. Goldman Sachs adds that it sees upside for residential-exposed categories through 2024 should interest rates move lower, though this is also partially offset by ongoing weakness in ClarkDietrich.