Stifel Nicolaus Maintains “Buy” on Armstrong

New York, NY, April 4, 2007--Analysts at Stifel Nicolaus & Company maintain their "buy" rating on Armstrong World Industries Inc. while reducing their estimates for the company. The target price is set to $58.

In a research note published this morning, the analysts mention that although the performance of the company’s building products division had been healthy in 4Q, the results exhibited significant weakness in the wood flooring business. The EPS estimate for FY07 has been reduced from $2.06 to $1.91 to reflect a significantly lower EBIT contribution from Armstrong World Industries’ Wood Flooring division.