Beacon price target raised to $95 from $85 at Truist

Truist raised the firm’s price target on Beacon to $95 from $85 and keeps a Hold rating on the shares. The company’s Q2 results topped expectations as residential roofing volume and pricing remain resilient in the current decline, though storm volume is also helping demand, the analyst tells investors in a research note. The focus now turns to the stock’s trading multiple given very good performance in this downturn, the firm adds.