Zelman downgraded Beacon (BECN) to Neutral from Outperform after the company confirmed that it previously received and rejected an unsolicited, non-binding proposal from QXO (QXO).
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 55% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on BECN:
- Beacon confirms receipt, reiterates rejection of unsolicited QXO proposal
- Big banks report Q4 beats, QXO proposes to buy Beacon: Morning Buzz
- QXO proposes to acquire Beacon Roofing Supply for $124.25 per share in cash
- Beacon price target raised to $130 from $114 at RBC Capital
- AMD downgraded, Carvana upgraded: Wall Street’s top analyst calls