Masco price target lowered to $62 from $74 at RBC Capital

RBC Capital lowered the firm’s price target on Masco (MAS) to $62 from $74 and keeps a Sector Perform rating on the shares after its Q1 earnings miss. The move lower is driven by the impact of 145% China tariffs, 10% global, and steel/aluminum tariffs, partially offset by incremental pricing actions and cost take out, the analyst tells investors in a research note. Masco’s guide was withdrawn, but there was also sufficient quantification provided to frame the tariff policy volatility, the firm adds.