Apogee Enterprises (NASDAQ:APOG) Growth Should Remain Level

With the glass industry still remaining relatively weak, Apogee Enterprises (NASDAQ:APOG) will continue to face growth challenges in the near term at least.

Canaccord says, "Industry conditions remain weak, as evidenced by another significant q/q decline in architectural glass backlog and continued negative operating margins in that segment. However, flattening arch. glass revenues suggest business conditions are stabilizing near trough levels, in our view. Based on our new C2012 estimates, we raise our price target...FQ3 (Nov.) revenue/EPS were $147.2M/$(0.08) vs. our estimates of $148M/$(0.14) and consensus of $152.6M/$(0.10)."

Canaccord Genuity maintains a "Hold" rating on Apogee Enterprises, which closed Thursday at $13.02, up $0.86, or 7.07 percent. Canaccord raised their price target on them from $10 to $13.