UPDATE: Jefferies Downgrades Masco (MAS) to Hold

(updating comment)

Jefferies analyst Philip Ng downgraded Masco (NYSE: MAS) from Buy to Hold with a price target of $51.00 (from $55.00).

The analyst comments "With shares up ~64% in 2019 and the re-rate materializing following the portfolio review, we believe MAS is fairly valued and we are downgrading shares to a Hold. In a risk on tape, we prefer names with more cyclical torque and head room for multiple expansion. Given MAS's concentration in R&R, we expect growth to be tepid and don't see upside to margins, with the phase 1 trade deal only partially rolling back List 4 tariffs."

For an analyst ratings summary and ratings history on Masco click here. For more ratings news on Masco click here.

Shares of Masco closed at $47.90 yesterday.

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