Builders FirstSource price target raised to $165 from $145 at Truist

Truist raised the firm’s price target on Builders FirstSource to $165 from $145 and keeps a Buy rating on the shares. The analyst cites the company’s Analyst Day expectations calling for growth of 9% CAGR for revenue, 12% EBITDA and 17% EPS through 2026. The stock has surged of late on projections of lower rates in 2024, which is still a “short term driver”, though gains above housing market growth in the next cycle will most likely be seen, the firm tells investors in a research note.