UPDATE: Sterne Agee Initiates Coverage on Universal Forest Products on Good Growth Position

In a report published Friday, Sterne Agee analyst Jay McCanless initiated coverage on Universal Forest Products (NASDAQ: UFPI ) with a Buy rating and $45.00 price target. In the report, Sterne Agee noted, “We are initiating coverage of UFPI with a Buy rating and a $45 PT. Our PT is