Griffon initiated with a Buy at Loop Capital

Loop Capital last night initiated coverage of Griffon (GFF) with a Buy rating and $95 price target The analyst believes the step up in the company’s Home and Building Products segment margins is sustainable and there is a “valuation disconnect” at current shared levels as the ongoing turnaround of its Consumer and Professional Products segment should drive multiple expansion moving forward. Griffon is the leading manufacturer of residential and commercial garage doors in North America, and the company should continue to deliver above market residential growth through its strong brands, new product innovation, and high quality service levels, the analyst tells investors in a research note.