UFP Industries initiated with a Hold at Loop Capital

Loop Capital last night initiated coverage of UFP Industries (UFPI) with a Hold rating and $112 price target The firm says the company’s near-term end market demand and margin headwinds are offset by a positive long-term growth story. It believes UFP has a number of catalysts to drive long-term revenue growth and margin expansion. However, Loop expects macro headwinds will continue to weigh on the company’s segment margins and end market demand over the next several quarters.