In a report issued Monday May 19th, Longbow upgraded Beacon Roofing Supply BECN to a rating of Buy with a target price of $42.
Analyst Neil Frohnapple of Longbow sees that accelerating revenue growth and improving gross margin should continue to drive shares of Beacon higher, while current levels offers a "compelling buying opportunity".
Frohnapple sees that Beacon has the potential to double its amount of branches open in the next five years which would also continue to drive shares higher in the future.
Beacon Roofing Supply opens Monday at $33.56.
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