TopBuild price target lowered to $290 from $340 at Truist

Truist lowered the firm’s price target on TopBuild to $290 from $340 and keeps a Buy rating on the shares. The company’s Q3 results beat expectations on strong margin growth despite the weaker volume, the analyst tells investors in a research note. Interest rate fears likely will stay weighing on the multiple, but the firm remains at Buy amid management commentary of continued home building activity despite higher rates, the firm added.