Goldman Sachs upgraded Installed Building Products to Conviction Buy from Buy with a $216 price target. The firm added Target (TGT), Ally Financial (ALLY) and Installed Building Products (IBP) to its Conviction List, while removing JP Morgan (JPM), Republic Services (RSG), Okta (OKTA) and WW International (WW) as part of its monthly “Directors’ Cut” revisions. For Installed Building, the analyst believes the insulation installation contractor is well positioned to benefit from a U.S. housing recovery given its residential exposure, size, scale, and expertise.
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