Jeld-Wen price target lowered to $11 from $15 at Truist

Truist lowered the firm’s price target on Jeld-Wen (JELD) to $11 from $15 and keeps a Hold rating on the shares. The firm notes Jeld-Wen was off 28% intraday on results below Street views but particularly a guidance cut the magnitude of which has not been seen in Building Products. Mix continued to decelerate with volume that is falling on easier comps. Truist believes deflation is starting to hit the door/window market causing producers to choose value over volume. It is unclear if this is inventory clearing or something that will carry into 2025, the firm adds.