Masco price target raised to $80 from $79 at RBC Capital

RBC Capital analyst Mike Dahl raised the firm’s price target on Masco to $80 from $79 and keeps an Outperform rating on the shares after its Q1 earnings beat. The management continues to expect second-half weighted margin improvement, with the weakness implied by FY24 guidance seen as potentially conservative given Q1 strength, particularly in Plumbing, the analyst tells investors in a research note. RBC adds that it remains encouraged by Masco’s earnings setup and continues to view the company as a solid long-term earnings compounder.