BB&T Says Beacon IS Within Striking Range (BECN)
By Benzinga Staff
March 15, 2010 9:07 AM
March 15, 2010 9:07 AM
Symbols: BECN
BB&T Capital Markets lowered the rating on Beacon Roofing Supply, Inc. (NASDAQ: BECN) from Buy to Hold. The Boston-based Roofing Supply company distributes both residential and commercial roofing and related products.
The downgrade comes as BECN nears the BB&T's previously established $20 price target. BB&T analysts say that the stock has performed well this year rising "19.4% as compared to a 3.1% increase for the S&P 500 year-to-date."
BB&T estimates a FY'10 $0.93 EPS and a FY'11 $1.15 EPS.
Beacon Roofing is down 1.86% in today's session.
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