Truist raised the firm’s price target on Builders FirstSource to $175 from $148 and keeps a Buy rating on the shares after its Q2 earnings beat. The quarter most likely saw the trough of volume from housing starts declines, but also benefited from the lumber spread in multi-family housing, similar to Q1, the analyst tells investors in a research note. The stock remains one of the few ways to play new homebuilder share gains, Truist added.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See today’s best-performing stocks on TipRanks >>
Read More on BLDR:
- Builders FirstSource price target raised to $200 from $166 at Barclays
- Builders FirstSource seesFY23 revenue $16.8B-$17.8B, consensus $16.46B
- Builders FirstSource reports Q2 EPS $3.89, consensus $2.69
- Builders Firstsource (BLDR) Q2 Earnings Cheat Sheet
- Builders FirstSource price target raised to $162 from $135 at RBC Capital
