Jeld-Wen price target lowered to $5 from $7 at RBC Capital

RBC Capital lowered the firm’s price target on Jeld-Wen (JELD) to $5 from $7 and keeps an Underperform rating on the shares after its Q4 results and below-consensus guidance. A myriad of operating headwinds will likely be tough to fully offset via cost-outs against another down market year, the analyst tells investors in a research note. RBC adds it continues to see meaningful downside to equity value given the deterioration in earnings and the near-to-midterm free cash flow and leverage outlook.