Simpson Manufacturing price target lowered to $208 from $215 at Baird

Baird analyst Timothy Wojs lowered the firm’s price target on Simpson Manufacturing to $208 from $215 and keeps an Outperform rating on the shares. The firm said Q1 results were shy of expectations on a core basis, while rebate timing also added some incremental noise. Full-year guidance was reiterated, but given the Q1 shortfall, higher investor expectations, and likely trim to consensus estimates, they expect shares to trade lower.