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Fly News Breaks for May 9, 2019
BECN
May 9, 2019 | 07:38 EDT
RBC Capital analyst Michael Eisen raised his price target on Beacon Roofing to $40 after its Q2 earnings beat yesterday that followed a large negative pre-announcement in March. The analyst notes that the sharp rebound in demand at quarter-end has negated the tempered expectations and also cites a more "stringent" operating expense management offsetting the weather related gross margin pressure. Eisen keeps his Sector Perform on Beacon Roofing however given the stock's "healthy multiple."
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