Oppenheimer Maintains Perform on Masco (MAS)

Oppenheimer is out with its report today on Masco Corp. MAS, maintaining Perform. In a note to clients, Opppenheimer writes, "We believe residential markets will recover over time, but the pace and timing remain highly uncertain. The company's aggressive restructuring actions should provide solid leverage potential on a volume recovery. However, visibility into the pace of housing starts through 2011 remains lacking and is expected to remain well below normal, while price/cost pressures are likely to remain a headwind. As a result, while our long-term outlook remains favorable, we believe near-term challenges could provide a more favorable entry point. We look to be opportunistic on a meaningful pullback." Oppenheimer has a $13 PT on MAS. Shares of MAS closed Thursday at $13.43.