Builders FirstSource price target lowered to $200 from $220 at Benchmark

Benchmark analyst Reuben Garner lowered the firm’s price target on Builders FirstSource to $200 from $220 and keeps a Buy rating on the shares. While Builders reported “solid” Q2 results, full year revenue and EBITDA guidance was revised lower to reflect the softening housing market and lower commodity prices, the analyst noted. The firm’s new EPS estimates of $11.50 and $12.00 are down from $13.50 and $15.00 previously, but the assumptions “leave room for upside, particularly if rate cuts help on the affordability front,” the analyst tells investors in a post-earnings note.