Installed Building Products price target raised to $220 from $216 at RBC Capital

RBC Capital analyst Mike Dahl raised the firm’s price target on Installed Building Products to $220 from $216 and keeps a Sector Perform rating on the shares after its Q1 earnings beat. The firm is citing the company’s modest upside in sales and margins as price/mix remains solid, also pushing out its expected meaningful multi-family buildling headwinds to FY25, the analyst tells investors in a research note.