Craig-Hallum Cuts Apogee Enterprises Price Target By ~9%

Craig-Hallum analyst Eric Stine lowered the price target for Apogee Enterprises Inc APOG to $43 (2.7% upside) from $47 while maintaining the Hold rating on the shares.
The analyst noted the company had a good start to FY23, with Q1 surpassing expectations.
Stine expressed optimism about Apogee's operational progress.
Meanwhile, the analyst specified that certain market headwinds and uncertainties should be monitored, as they could mean that the current strong non-residential building market backdrop is not sustainable.
Price Action: APOG shares are trading higher by 4.40% at $41.72 on the last check Friday.