UPDATE: Goldman Sachs Initiates Ply Gem with Buy on Good Upside Potential

In a report published Tuesday, Goldman Sachs analyst Eli Hackel initiated coverage on Ply Gem Holdings (NYSE: PGEM) with a Buy rating and $25.00 price target.

In the report, Goldman Sachs noted, “Ply Gem, which is a leading manufacturer of windows/doors and vinyl siding, is well positioned to benefit from the surge in both new residential construction as well as increased repair and remodel (R&R) spend. Given the company's high exposure to new construction we expect faster than average growth and returns but the company is trading below its peers. We expect a stock rerating as we expect in-line to stronger-than-expected results which we believe will drive investors to appreciate its growth potential.”

Ply Gem Holdings closed on Monday at $20.15.