SiteOne Landscape price target lowered to $139 from $144 at Barclays

Barclays analyst David Manthey lowered the firm’s price target on SiteOne Landscape to $139 from $144 and keeps an Underweight rating on the shares. The analyst is selective heading into the Q3 reports for homebuilding and building products reflecting rate volatility. The firm trimmed estimates and price targets across both builders and building products. However, higher rates does not meaningfully alter what remains a very constructive outlook for builders, says the firm, which thinks it remains too early for building products relative to builders.