Loop Capital analyst Jeffrey Stevenson raised the firm’s price target on Builders FirstSource to $225 from $185 and keeps a Buy rating on the shares. The company’s Q4 earnings beat was driven by better-than-expected top and bottom line results as Builders FirstSource began to see a pickup in early cycle residential product categories such as lumber and truss, the analyst tells investors in a research note.
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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
