Patrick Industries price target raised to $110 from $100 at KeyBanc

KeyBanc analyst Noah Zatzkin raised the firm’s price target on Patrick Industries (PATK) to $110 from $100 and keeps an Overweight rating on the shares. The firm notes the company delivered a solid top- and bottom-line beat vs. the Street, highlighting the relative resilience of Patrick Industries’ diversified model and solid execution. Encouragingly, Patrick Industries pointed to an unchanged full year operating margin assumption, along with largely unchanged end-market assumptions.