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Fly News Breaks for January 11, 2019
IBP
Jan 11, 2019 | 07:39 EDT
As previously reported, RBC Capital analyst Michael Eisen downgraded Installed Building Products to Sector Perform and lowered his price target to $43 from $46 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, which he expects to slow and limit Installed Building Products' ability to generate "meaningful organic growth."
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