UPDATE: Imperial Capital Downgrades Builders FirstSource on Valuation

In a report published Monday, Imperial Capital analyst Scott Levine downgraded the rating on

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.