Truist analyst Keith Hughes raised the firm’s price target on Installed Building Products to $235 from $200 and keeps a Hold rating on the shares. The analyst cites the company’s Q4 earnings beat thanks to growth in its multi-family end-market, though the company also indicated gross margin compression in 2024 on several factors. Installed Building Products is headed for a “positive but choppy year” that may not result in “beats” every quarter, the firm added.
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