Fly News Breaks for March 2, 2020
Mar 2, 2020 | 08:58 EDT
SunTrust analyst Keith Hughes upgraded Builders FirstSource to Buy from Hold with a price target of $30, up from $24. The analyst believes that the company will benefit from the enhanced home-building cycle driven by coronavirus pushing treasury rates to all times lows. Hughes also believes that the market "misunderstanding" of lumber pressure in Q1 has made the stock one of the worst performing names while noting that margins should expand from Builders' long-term shift to higher value added products.
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