** Brokerage Barclays predicts subdued Q3 earnings for U.S. building products and homebuilders due to slowing markets, but holds a slightly favorable outlook for building products.
** Barclays believes recent reduction in interest rates would only marginally benefit homebuilders
** The more recent jump in rates may still leave the market skeptical and unforgiving around choppy homebuilder earnings prints — Barclays
** Brokerage says preferred overweights for earnings season are Azek Company , Fortune Brands Innovations , and Builders First Source
** Brokerage underweight on Trex Co and SiteOne Landscape Supply
** PHLX Housing Index has risen 21.8% YTD
(Reporting by Khusbu Jena)
((Khusbu.Jena@thomsonreuters.com))
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.