Installed Building Products price target raised to $140 from $132 at Stephens

Stephens raised the firm’s price target on Installed Building Products to $140 from $132 and keeps an Equal Weight rating on the shares. The 2023 building season has been “better than most expected,” while recent home builder commentary and housing data suggests “the worst could be behind us for new residential construction,” meaning it’s possible single family insulation demand could start to pick up as early as mid-Q3, the analyst tells investors.