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Fly News Breaks for August 8, 2018
BECN
Aug 8, 2018 | 08:54 EDT
SunTrust analyst Keith Hughes lowered his price target on Beacon Roofing to $52 after its Q3 earnings miss and a guidance cut in spite of margin improvement and pricing gains. The analyst notes that the management cited less storm damage in the quarter requiring repairs along with tough comps and expects those trends to persist for a few more quarters. Hughes keeps his Buy rating on Beacon Roofing, saying the sector is becoming an interesting investment as the storm related demand decline is being priced in.
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