Baird analyst David Manthey noted Beacon Roofing reported mixed Q4 results and guidance that was endorsed toward the lower end of the Street's estimates. The analyst believes the company is taking a conservative approach while he recommends focusing on the bigger picture as fundamentals remain strong. Manthey said he would use any weakness as a buying opportunity, citing improving competitive dynamics, potential M&A, and its attractive valuation. Manthey reiterated his Outperform rating and lowered his price target to $56 from $57 on Beacon Roofing shares.