Masco price target lowered to $80 from $82 at Argus

Argus analyst Chris Graja lowered the firm’s price target on Masco (MAS) to $80 from $82 but keeps a Buy rating on the shares and says the recent pullback in shares presents an opportunity. Masco’s business transformation left it better prepared for the economic turbulence resulting from COVID-19, supply-chain disruptions, a soft European economy, Federal Reserve rate hikes, and a slowing housing market, the analyst tells investors in a research note. Even in a difficult environment for home improvement products, the company has benefited from operating efficiency and innovation, Argus added.