Beacon price target lowered to $89 from $92 at Jefferies

Jefferies lowered the firm’s price target on Beacon to $89 from $92 and keeps a Hold rating on the shares in conjunction with the firm’s Q3 earnings preview for the building products group. The focus of this earnings season will be on 2024 and while affordability headwinds are “priced in,” over the next six-plus months the group will trade on interest rate expectations and sentiment on the consumer, the analyst tells investors.