Goldman Sachs analyst Susan Maklari upgraded Installed Building Products to Buy from Neutral with a price target of $178, up from $146. The analyst estimates single-family starts will grow 8% year-over-year in 2024 and believes Installed Building will leverage its “compelling” value proposition to builders, contributing to the firm’s Street high 2024 EBITDA estimate. Goldman cites normalization in build times, improving price/cost dynamics, the benefit of multi-family volumes, and improved profitability in commercial for the upgrade.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See today’s best-performing stocks on TipRanks >>
Read More on IBP:
- Installed Building Products upgraded to Outperform from In Line at Evercore ISI
- Installed Building Products reports Q3 EPS $2.79, consensus $2.38
- IBP Earnings Report this Week: Is It a Buy, Ahead of Earnings?
- Installed Building Products raised to Buy at Benchmark amid ‘overblown’ concerns
- Installed Building Products upgraded to Buy from Hold at Benchmark