Advanced Drainage price target lowered to $160 from $172 at Barclays

Barclays lowered the firm’s price target on Advanced Drainage (WMS) to $160 from $172 and keeps an Overweight rating on the shares. The firm prefers building products to homebuilders in Q4. Investor expectations are “subdued” across both subsectors into earnings, the analyst tells investors in a research note. The firm says that as both subsectors declined over the past six weeks, building products stocks have seen greater dislocations versus fundamentals, leaving better entry points.