JELD-WEN Holding Inc. (JELD) shares plummeted around 5% in Monday's pre-market trading session, following a price target cut by Barclays analysts. The move came amid concerns over the company's growth prospects.
Barclays analyst Matthew Bouley lowered the firm's price target on JELD-WEN to $6 from $9, maintaining an Equal Weight rating on the stock. The analyst's move reflects concerns about the company's ability to drive growth in the current market environment.
The downgrade adds to the pressure on JELD-WEN, a leading manufacturer of windows and doors. The company has been grappling with supply chain challenges and rising input costs, which have weighed on its profitability and growth prospects.
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