Canaccord Adams initiates coverage on Apogee Enterprises (Nasdaq: APOG) with a Buy rating and $22 price target.
The firms said, "Our research leads us to conclude that we are at the beginning stage of what is poised to be one of the most significant secular trends in the global building/construction market – the 'Green Building' (GB) movement.While green building historically has represented little more than an interesting “niche market” driven by forward-thinking architects and builders, accelerated demand and attractive tangible returns are opening up the mainstream building industry to GB practices, in our view."