Loop Capital has revised its price target for MasterBrand (MBC, Financial) from $19 to $16, while maintaining a Buy rating on the company's stock. This adjustment comes in the context of a challenging market environment impacting cabinet manufacturers. Key issues include a weakening demand outlook due to declining consumer confidence, reduced housing turnover, and a gloomy forecast for new construction projects.
Recent survey results among cabinet industry players reveal a slowdown across several areas, including sales and product mix. This deceleration highlights difficulties faced by the sector, prompting cautious perspectives on their future performance.
