Masonite initiated with an Outperform at Oppenheimer

Oppenheimer analyst Tyler Batory initiated coverage of Masonite (DOOR) with an Outperform rating and $115 price target. Exposure to growth in single-family housing starts should be a tailwind and the company’s focus on innovation and de-commoditizing its product offerings should contribute to pricing power, the analyst tells investors in a research note. The termination of the PGT Innovations (PGTI) acquisition demonstrates financial discipline deploying capital, the firm argues.