Zacks Investment Research upgraded shares of NCI Building Systems Inc. (NCS) from UNDERPERFORM to NEUTRAL on November 28, 2013, with a target price of $18.00.
We are upgrading our recommendation on NCI Building from Underperform to Neutral, with a target price of $18.00. This is based on expected benefits from strong backlog, cost-cutting initiatives and a positive mix shift. Additionally, the Metl-Span acquisition will drive long-term growth. However, volatile steel prices and incremental operating cost remain concerns. Furthermore, the Dodge Momentum Index slipped 0.9% in Oct suggesting that developers remain cautious about the tepid performance of the economy and its impact on market fundamentals.
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