MasterBrand price target lowered to $16 from $19 at Loop Capital

Loop Capital lowered the firm’s price target on MasterBrand (MBC) to $16 from $19 and keeps a Buy rating on the shares as part of a broader research note on Cabinets. Manufacturers continue to both be in a tough spot as the end market demand outlook looks progressively more challenged given weaker consumer confidence, housing turnover and new construction outlooks, and the firm’s survey of cabinet industry participants confirms as much as results showed a sequential deceleration across many metrics-from sales to product mix to the outlook, the analyst tells investors in a research note.