Jeld-Wen downgraded at UBS as ongoing turnaround could take longer to bear fruit

UBS downgraded Jeld-Wen (JELD) to Neutral from Buy with a price target of $9, down from $15. UBS views the setup for homebuilder stocks in 2025 favorably and believes market sentiment has rapidly shifted towards peak pessimism, which often creates the most attractive buying opportunities for the group, the analyst tells investors in a research note. The firm believes the ongoing turnaround could take longer to bear fruit.