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Fly News Breaks for November 4, 2019
BLDR
Nov 4, 2019 | 09:05 EDT
SunTrust analyst Keith Hughes raised his price target on Builders FirstSource to $24 after its Q3 earnings beat while noting that the lumber commodity deflation that drove its revenue shortfall will not be in play during Q4. The analyst expects the company to deliver a "better, even volume year" in 2020 but keeps his Hold rating on the stock, citing a narrower gap in the enterprise value to expected EBITDA multiple relative to its peer group.
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