Wells Fargo lowered the firm’s price target on Ferguson (FERG) to $205 from $215 and keeps an Overweight rating on the shares. Amidst a tough builder backdrop, the firm has detected a step-up in interest across its product/distributor coverage in recent weeks, even as questions about R&R recovery/tariffs percolate. Wells’ preference for the Q4 product EPS includes stocks with pricing power, limited discretionary R&R and attractive valuations.
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Read More on FERG:
- Ferguson U.S. shares initiated with an Overweight at Morgan Stanley
- Ferguson downgraded to Neutral from Outperform at Zelman
- Ferguson stock looks oversold, says Jefferies
- Ferguson Enterprises Announces Quarterly Dividend and Currency Exchange Rate
- Ferguson price target lowered to $211 from $234 at Barclays