Beacon upgraded to Outperform from Neutral at Baird

Baird upgraded Beacon to Outperform from Neutral with a price target of $115, up from $99. The upgrade follows yesterday’s pullback on the in-line Q4 results and 2024 guidance. The stock’s valuation is undemanding and company execution has improved significantly under the current management team, the analyst tells investors in a research note. The firm believes the market fails to give Beacon enough credit for the “strong progress towards Ambition 2025 goals.”