Loop Capital raised the firm’s price target on Installed Building Products to $250 from $205 and keeps a Buy rating on the shares. The company reported a strong Q4 earnings and issued a positive 2024 outlook based on improving single-family demand expectations, the analyst tells investors in a research note. The firm adds that Installed Building Products is more optimistic about multi-family demand than others in its building products coverage due in part due to its strong backlogs.
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Read More on IBP:
- Installed Building Products Announces Dividend and Refinancing Talks
- Installed Building Products increases quarterly dividend 6% to 35c per share
- Installed Building Products reports Q4 adjusted EPS $2.72, consensus $2.45
- IBP Earnings Report this Week: Is It a Buy, Ahead of Earnings?
- Installed Building Products upgraded to Conviction Buy from Buy at Goldman Sachs
