Davidson upgades Apogee to Buy after year-to-date selloff

DA Davidson analyst Brent Thielman upgraded Apogee Enterprises (APOG) to Buy from Neutral with an unchanged price target of $47. The over 50% drop in the shares year-to-date reflects reflects end market variability, tariff impacts and the CEO exit, the analyst tells investors in a research note. The shares at current levels are not pricing the momentum in the company’s Performance Surfaces segment and its “aggressive” buybacks, the analyst tells investors in a research note. DA believes that if Apogee keeps margins on higher potential revenue in the next few years, the company has “significant earnings power” potential.