Macquarie Notes Price Gains In USG Holding, Reiterates As Top Idea

Macquarie Research's Mike Wood reiterated USG Corporation (NYSE: USG) as a Top Idea with a price target of $35. The reiteration came after USG announced its wallboard price increase was successfully implemented.

"We believe the price increase pertains to roughly 50% of USG's wallboard sales," said Wood. Due to the increase, the analyst expected about 5.5 percent realized gross price increase from Q1 to 3Q16 "as the price benefits are partially realized in each quarter."

USG closed at $28.31, up about 0.6 percent.