Loop Capital analyst Garik Shmois raised the firm’s price target on Beacon (BECN) to $127 from $115 and keeps a Buy rating on the shares. The company rejected an unsolicited non-binding proposal from QXO (QXO), though the firm is boosting its price target to reflect a takeout premium, the analyst tells investors in a research note.
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Read More on BECN:
- Beacon price target raised to $136 from $125 at BMO Capital
- Beacon downgraded to Neutral from Outperform at Zelman
- 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