Fly News Breaks for February 5, 2020
Feb 5, 2020 | 07:59 EDT
DA Davidson analyst Kurt Yinger upgraded Builders FirstSource to Buy from Neutral with a price target of $29, up from $24. The analyst notes that his prior forecast of earnings pressure from lumber deflation and a "tepid" housing market has proven to be incorrect. Yinger adds that the recent weakness in Builders FirstSource offers an attractive entry point, and that the stock can trend higher alongside "additional bolt-on M&A, a palatable pace of commodity inflation, and its ability to generate organic volume growth in excess of starts".
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