TopBuild price target lowered to $331 from $365 at Jefferies

Jefferies analyst Philip Ng lowered the firm’s price target on TopBuild to $331 from $365 and keeps a Buy rating on the shares in conjunction with the firm’s Q3 earnings preview for the building products group. The focus of this earnings season will be on 2024 and while affordability headwinds are “priced in,” over the next six-plus months the group will trade on interest rate expectations and sentiment on the consumer, the analyst tells investors.