KeyBanc Starts PGT, Inc. (PGTI) at Buy

KeyBanc initiated coverage on PGT, Inc. (NASDAQ: PGTI) with a Buy rating and a price target of $12.00.

Analyst Kenneth R. Zener said, "We think PGTI’s leadership (~60% share) of impact resistant windows offers: 1) cyclical growth exposure; and 2) ~3.5%+ margin expansion potential from a) new lower cost capacity (~2%/$0.10) and b) new products (~1.5%/$0.07) over the next 18 months, on top of recent M&A synergies. We think PGTI deserves a valuation premium to peers based on our expectation for its higher than peers' cyclical growth amid expanding margins supporting superior earnings growth."

For an analyst ratings summary and ratings history on PGT, Inc. click here. For more ratings news on PGT, Inc. click here.

Shares of PGT, Inc. closed at $9.41 yesterday.

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