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Fly News Breaks for January 11, 2019
BLDR
Jan 11, 2019 | 07:43 EDT
As previously reported, RBC Capital analyst Mike Dahl downgraded Builders FirstSource to Sector Perform and lowered his price target to $13 from $18 given his "more negative view" on the growth of the construction sector in the coming two years. The analyst cites the company's 77% of total revenue exposure to the new residential construction activity and also point to his expected "material decline in lumber prices" that will result in lower revenues and limit the company's margin expansion this year.
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