We are raising our price target on shares of Jeld-Wen (JELD) to 28 from 25.
JELD shares have reached/surpassed our 25 price target and have gained about 54% since we initially recommended the stock in November 2018. We are modestly raising our price target to 28, as we believe there is more fundamental strength to the company’s outlook than we had initially anticipated. The surge in housing demand from the pandemic is in part supporting the better fundamentals.
Jeld-Wen is scheduled to report earnings on Tuesday, November 3rd, before the market opens. As a reminder, that is Election day, so the shares may be volatile for reasons other than company-specific fundamentals.