Masco price target raised to $74 from $60 at Truist

Truist analyst Keith Hughes raised the firm’s price target on Masco to $74 from $60 and keeps a Buy rating on the shares. The company’s Q2 results outperformed primarily on margin execution, and its guidance implies bottoming demand in North America, even though Europe continues to deteriorate, the analyst tells investors in a research note. The company’s remodel heavy demand customers will start to see improved spending late this year or in early 2024 given improved housing confidence and a still growing economy, the firm added.