Jeld-Wen price target lowered to $16 from $17 at Loop Capital

Loop Capital lowered the firm’s price target on Jeld-Wen to $16 from $17 and keeps a Hold rating on the shares. The firm is citing continued large ticket R&R – or repair & remodel – demand headwinds, also lowering its Q2 forecast to below consensus on more conservative North America revenue and margin assumptions than previously anticipated, the analyst tells investors in a research note. The company has made great progress reducing costs and rightsizing its manufacturing footprint, but these initiatives have been overshadowed by cyclical large ticket R&R demand headwinds, the firm added.