Ferguson price target raised to $159 from $148 at Barclays

Barclays analyst Matthew Bouley raised the firm’s price target on Ferguson to $159 from $148 and keeps an Overweight rating on the shares. The analyst has turned positive on the homebuilder subsector, saying valuations are already priced for a sharp housing recession. He’s now relatively more positive builders versus building products. Bouley sees a "once-in-a-cycle opportunity" to own the early-cycle outperformance phase of homebuilder stocks. The "time is now" for builders, and it is "too early" for building products, Bouley tells investors in a research note.