Barclays Cuts Masco Price Target By 10%

• Barclays analyst Matthew Bouley lowered the price target on Masco Corp (NYSE:MAS) to $75 (an upside of 31.3%) from $83 and maintained an Overweight rating on the shares.
• Softer plumbing margins were the disappointment in the quarter, with supply chain pressures and elevated costs driving the headwinds; however, the pricing implementation into 2022 is likely to drive a near-term recovery, the analyst noted.
• Related: Masco Clocks 9% Sales Growth In Q4; Hikes Dividend
• Recently, KeyBanc analyst Kenneth Zener had lowered Masco’s price target to $72 (an upside of 26%) from $79 on the second half of 2022 cost pressure. The analyst maintained an Overweight rating on the shares.
• Price Action: MAS shares are trading lower by 1.13% at $57.08 on the last check Monday.