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Fly News Breaks for January 16, 2019
BLD, IBP
Jan 16, 2019 | 07:13 EDT
Jefferies analyst Philip Ng downgraded Installed Building Products (IBP) to Hold from Buy and lowered his price target for the shares to $40 from $48. The analyst sees a "likely pause" in residential new construction and points out that that Installed Building has "outsized exposure." Further, he notes the stock trades at a 23% premium trades to TopBuild (BLD). Ng prefers other names in the group that are "better insulated." He cites decelerating growth and a full valuation for his downgrade of Installed Building Products.
News For IBP;BLD From the Last 2 Days
