Truist analyst Keith Hughes raised the firm’s price target on Builders FirstSource to $190 from $185 and keeps a Hold rating on the shares. The company’s Q4 results saw continued strong gross margin on productivity and multi-family strength, the latter of which is anticipated to weaken through 2024 however, the analyst tells investors in a research note. 2024 will be a volatile year with changing winds in single- and multi-family housing, the firm added.
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Read More on BLDR:
- BLDR Earnings: Builders FirstSource Soars on Q4 Beat, $1B Buyback
- Builders Firstsource Launches $1 Billion Stock Buyback Plan
- Builders FirstSource increases stock repurchase plan to $1B
- Builders FirstSource sees FY24 capital expenditures $525M-$575M
- Builders FirstSource reports Q4 adjusted EPS $3.55, consensus $2.54
