Builders FirstSource price target lowered to $169 from $185 at DA Davidson

DA Davidson lowered the firm’s price target on Builders FirstSource to $169 from $185 and keeps a Neutral rating on the shares. The stock outperformed on the day due to certain comments around 2025 gross margins assuaging investor concerns on that topic, but the midpoint of the full-year EBITDA guide was cut 12%, with the Q3 outlook also seen as “well below” the firm’s prior model, the analyst tells investors in a research note.