Benzinga | Sep 30, 2021 12:32PM EDT

Morgan Stanley Initiates Janus International With Equal Weight Rating - Read Why

* Morgan Stanley analyst Joshua Pokrzywinski initiated Janus International Group Inc (NYSE:JBI) with an Equal Weight rating and a price target of $14, implying an upside of 13.6%.

* Pokrzywinski believes the long-term economics around self-storage upgrades due to a "consolidating, sophisticated customer base meshes well" with Janus' own role as a consolidator in equipment.

* The analyst says post-Covid normalization in occupancy and new square foot demand may cap the company's mid-term growth.

* Price Action: JBI shares are trading lower by 2.76% at $12.33 on the last check Thursday.