Deutsche Bank raised the firm’s price target on Beacon to $122 from $119 and keeps a Buy rating on the shares. The company preannounced an EBITDA beat for Q4, the analyst tells investors in a research note. The firm views the results and forward outlook as a net positive, saying the release contextualized the downside risk from storm demand lapping, while also providing investors with relatively helpful commentary around other end-market headwinds and the strength of cumulative price levels.
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Read More on BECN:
- Beacon Announces Appointment of Interim Chief Financial Officer
- Beacon sees FY23 diluted EPS (48c)-(42c) may not compare with consensus $7.38
- Beacon sees Q4 EPS $1.42-$1.48, consensus $1.64
- Beacon appoints Carmelo Carrubba as Interim CFO
- Beacon upgraded to Outperform from Market Perform at William Blair