Stifel Nicolaus Maintains “Buy” on Armstrong

New York, March 26, 2007--Analysts at Stifel Nicolaus & Company maintain their "buy" rating on Armstrong World Industries Inc (ticker: AWI). The target price is set to $58.

In a research note published this morning, the analysts mention that Armstrong World Industries’ largest shareholder, Asbestos Trust, is likely to favor selling the company as a whole.

The analysts expect Armstrong World Industries to be valued at approximately $3.28 billion, or $58 per share, excluding debt and including cash reserves. The company’s value would be adversely affected if the housing markets weaken further, Stifel Nicolaus & Company adds.