DA Davidson raised the firm's price target on Simpson Manufacturing to $212 from $200 and keeps a Neutral rating on the shares. The company's Q1 earnings were nicely ahead of estimates, driven by a surprising rebound in North America volumes, including growth with builders, the analyst tells investors in a research note. The outlook for operating margin was reiterated despite downwardly revised expectations on housing starts, with greater than previously anticipated price capture an important offset, the firm added.
