Builders FirstSource price target lowered to $162 from $167 at RBC Capital

RBC Capital lowered the firm’s price target on Builders FirstSource (BLDR) to $162 from $167 but keeps an Outperform rating on the shares after its Q4 results and guidance. A more prudent end market outlook and near-term expectations reset after a weather-impacted Q1 guide has de-risked the setup somewhat, but broader housing macro/rates/macro risks remain, the analyst tells investors in a research note. RBC adds however that the ongoing margin resilience despite continued volume declines and the competitive pressures demonstrate structural margin gains, with Builders favorably positioned to capitalize on any eventual recovery.