Masco price target lowered to $61 from $66 at Loop Capital

Loop Capital lowered the firm’s price target on Masco to $61 from $66 and keeps a Hold rating on the shares. The firm’s review of its model suggested that it was “too exuberant” after the company’s Q2 results and that the sequential stability in sales and margins that Loop was expecting doesn’t appear to be materializing, the analyst tells investors in a research note. The R&R, or repair and remodel, market remains choppy due to elevated interest rates, limited housing turnover, and uninspiring remodeling data points that have come out over the last several months, the firm added.