NEW YORK (TheStreet) -- Masco (MAS) - Get Report stock was upgraded to "overweight" from "equal weight" at Barclays on Wednesday, after the home improvement company's third quarter earnings results beat analysts' expectations yesterday.
The firm raised its price target on the stock to $36 from $30.
Masco reported 2015 third quarter earnings of 34 cents per share on revenue of $1.84 billion. The average estimate at Zacks Investment Research was for earnings of 31 cents per share on revenue of $1.89 billion.
"Six months after the company presented its long-term financial outlook at its 2015 investor day, the company has meaningfully exceeded both our and Street expectations," Barclays said. "Therefore, we believe continued performance can drive a multiple expansion in the stock."
Shares of Masco were up by 2.05% to $28.94 in mid-morning trading on Wednesday.
Separately, TheStreet Ratings team rates MASCO CORP as a Buy with a ratings score of B. TheStreet Ratings Team has this to say about their recommendation:
We rate MASCO CORP (MAS) a BUY. This is driven by several positive factors, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its solid stock price performance and revenue growth. We feel its strengths outweigh the fact that the company has had sub par growth in net income.
You can view the full analysis from the report here: MAS