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UPDATE: Longbow Research Upgrades Beacon Roofing Supply On Attractive Risk/Reward Profile

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In a report published Monday, Longbow Research analyst Neil Frohnapple upgraded the rating on Beacon Roofing Supply (NASDAQ: BECN) from Neutral to Buy, and named a $42.00 price target.

In the report, Longbow Research noted, “We are upgrading Beacon Roofing Supply to a BUY rating as the risk/reward profile for the stock is attractive at current levels. We believe the prospects of accelerating growth and the underperformance of the shares year-to-date present a compelling buying opportunity. We expect a few factors to drive shares higher over the next several months including accelerating revenue growth (above seasonal improvements), improving gross margin (slightly above expectations), and the increasing probability of additional acquisitions on the horizon.”

Beacon Roofing Supply closed on Friday at $33.56.

Latest Ratings for BECN

DateFirmActionFromTo
Apr 2021Northcoast ResearchDowngradesBuyNeutral
Mar 2021Wolfe ResearchInitiates Coverage OnPeer Perform
Mar 2021StifelInitiates Coverage OnBuy

View More Analyst Ratings for BECN
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Posted-In: Longbow Research Neil FrohnappleAnalyst Color Upgrades Analyst Ratings

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