Deutsche Bank analyst Joe Ahlersmeyer raised the firm’s price target on Builders FirstSource to $163 from $138 and keeps a Buy rating on the shares. The analyst increased starts forecast “meaningfully” for Q2, as well as for the remainder of 2023, reflecting a “quicker, steeper” recovery for the homebuilders. The firm added “starts-levered” Builders FirstSource to its “Top Picks” into the Q2 reports. In building products, the residential distributors still have the greatest upside to fundamentals and estimates in the near-term, even amid elevated expectations and recent stock momentum, the analyst tells investors in a research note.
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