Masco price target raised to $85 from $78 at BMO Capital

BMO Capital raised the firm’s price target on Masco (MAS) to $85 from $78 and keeps a Market Perform rating on the shares as part of a broader research note previewing Q3 in North America Building Materials. The quarter’s results are likely to be lackluster, but this won’t matter much as investor focus has clearly shifted to 2025, the analyst tells investors in a research note. BMO adds however that while it is getting more constructive on the 2025 housing demand backdrop, it also remains on the sidelines with most building product companies as it believes that a lot of the demand recovery is already priced into the stocks. For the company, the firm also notes that while Repair & Remodeling – R&R – demand remains relatively weak, it is modestly raising its FY25 and FY26 estimates on expectation that demand will improve as interest rates drop.