Beacon price target raised to $95 from $75 at Raymond James

Raymond James analyst Sam Darkatsh raised the firm’s price target on Beacon to $95 from $75 and keeps an Outperform rating on the shares. Beacon had a “solid” beat and raise Q2, and while Q3 and 2H guidance was above expectations, the delayed free cash flow conversion via inventory build may have contributed to the stock’s underperformance Friday, the analyst tells investors in a research note.