Piper Jaffray Reiterates Rating, PT On APOG

Piper Jaffray is reiterating its Neutral rating and its price target of $14 on Apogee Enterprises APOG. The report shows the hope of recovery in the form of backlog progress also, saying, “Sequential backlog improved an encouraging 43% to $237.2M and included $15M related to the recent Glassec acquisition. Continued sequential progress in architectural backlog would be a key element to a more constructive view on shares.” APOG closed yesterday at $13.49.