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Benzinga

Akanksha Bakshi

Craig-Hallum Downgrades Apogee Enterprises Post Q4 Results

APOG Apogee Apogee Enterprises Apogee Enterprises Inc Nasdaq

Apogee Enterprises Inc (NASDAQ:APOG) has been downgraded to Hold from Buy, and the price target lowered to $47 from $54 by Craig-Hallum analyst Eric Stine.
According to the analyst, Apogee used to trade at a significant discount to building materials comps but now trades substantially in-line.
Related: Apogee Enterprises Q4 Results Surpass Estimates, Provides FY23 Guidance
Stine says he is stepping to the sidelines amid the current valuation, headwinds, and uncertainty about the potential impact of higher interest rates on projects.
Price Action: APOG shares are trading higher by 0.02% at $45.12 on the last check Friday.

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