TopBuild price target raised to $475 from $410 at BofA

BofA raised the firm’s price target on TopBuild to $475 from $410 and keeps a Buy rating on the shares after having hosted investor meetings with CFO Rob Kuhns and coming away “incrementally bullish.” Guidance is conservative relative to the firm’s expectations on single-family starts and insulation pricing, TopBuild still has opportunity to drive elevated incremental margins from productivity plans and increased penetration of spray foam could drive relative outperformance, the analyst tells investors following the meetings.