Beacon price target raised to $90 from $75 at BMO Capital

BMO Capital analyst Ketan Mamtora raised the firm’s price target on Beacon to $90 from $75 and keeps an Outperform rating on the shares. The analyst is citing greater conviction in the company’s medium-term growth and margin enhancing initiatives, along with its ability to navigate an uncertain near-term macro backdrop, following the firm’s meeting with the management. Beacon’s operating performance gains and improved financial flexibility from significantly lower leverage remain underappreciated, the firm tells investors in a research note.