Stifel analyst W. Andrew Carter raised the firm’s price target on Beacon (BECN) to $131 from $115 and keeps a Buy rating on the shares. The firm views a Beacon takeout as “highly likely” following QXO‘s (QXO) formal $124.25 per share offer, which was rejected. The firm, which believes QXO will have to increase its offer to be successful via a proxy context, sees “real potential for a competing strategic offer” and calls Lowe’s (LOW) “the most compelling candidate.”
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Read More on BECN:
- Beacon price target raised to $127 from $115 at Loop Capital
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