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Fly News Breaks for November 5, 2018
BLDR
Nov 5, 2018 | 09:20 EDT
SunTrust analyst Keith Hughes lowered his price target on Builders FirstSource to $17 to reflect the headwinds in the housing sector and the expected end of the lumber deflation benefits next year. The analyst also keeps his Buy rating on the shares after the company's better than expected margin improvement in the most recent quarter while also noting that the housing deceleration thus far does not necessarily imply a contraction. Hughes adds that regardless of the housing macro trends, the valuation on Builders FirstSource is "just too low".
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