Seaport Research raised the firm’s price target on Installed Building Products to $260 from $170 and keeps a Buy rating on the shares. The company’s operational cadence is improving, with management’s confidence that synchronized, upward margins are a base-case in 2024, supporting the recent stock momentum, the analyst tells investors in a research note. The firm expects mid-single digit price gains year-over-year in fiscal 2024 and says fiberglass input prices from the fall will largely be in place in Q2.
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