Simpson Manufacturing price target raised to $210 from $200 at Stephens

Stephens raised the firm’s price target on Simpson Manufacturing (SSD) to $210 from $200 and keeps an Equal Weight rating on the shares. Q1 results beat the firm’s and consensus estimates and the firm is “encouraged” by the strong results, the analyst tells investors. While Simpson continues to execute at a high level, and is well-positioned to outperform the market, the firm still believes the risks to new residential construction remain skewed to the downside this year, the analyst added.