Jeld-Wen price target lowered to $9 from $13 at RBC Capital

RBC Capital lowered the firm’s price target on Jeld-Wen (JELD) to $9 from $13 and keeps an Underperform rating on the shares. The company reported a disappointing Q3 and cuts its FY24 guide, driving a sharp stock decline, the analyst tells investors in a research note. Jeld-Wen’s execution remains poor against continued weakness in R&R – Repair & Remodeling – with renewed share loss and mix headwinds that continue to outpace benefits from ongoing restructuring efforts, RBC added.