TopBuild price target raised to $450 from $320 at Benchmark

Benchmark analyst Reuben Garner raised the firm’s price target on TopBuild to $450 from $320 and keeps a Buy rating on the shares after Q4 earnings came in ahead of Street expectations despite revenue missing slightly. The FY24 outlook incorporates continued solid end-market demand across the board, notes the analyst, who says “insulation remains a great place to be.”