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UPDATE: Imperial Capital Downgrades Builders FirstSource on Valuation

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In a report published Monday, Imperial Capital analyst Scott Levine downgraded the rating on Builders FirstSource (NASDAQ: BLDR) from Outperform to In-Line, but raised the price target from $8.50 to $9.50.

In the report, Imperial Capital noted, “We are raising our one-year price target to $9.50 from $8.50 (about 9% above the recent share price) and are lowering our rating to In-Line from Outperform. We maintain a favorable view of BLDR's growth prospects, driven by expectations of increased single-family housing construction activity in the Southern U.S., and further market share gains. That said, with the shares approaching our price target following a period of recent relative outperformance, we see more upside elsewhere.”

Builders FirstSource closed on Friday at $8.74.

Latest Ratings for BLDR

DateFirmActionFromTo
Jun 2016FBR CapitalInitiates Coverage onOutperform
Apr 2016SunTrust Robinson HumphreyInitiates Coverage onBuy
Mar 2016Deutsche BankMaintainsBuy

View More Analyst Ratings for BLDR
View the Latest Analyst Ratings

Posted-In: imperial capital Scott LevineAnalyst Color Downgrades Analyst Ratings

 

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