Beacon price target raised to $95 from $76 at Baird

Baird analyst David Manthey raised the firm’s price target on Beacon to $95 from $76 and keeps a Neutral rating on the shares. The firm noted they announced the repurchase of CD&R’s Series A Preferred stock for $804.5 million, which the firm thinks is slightly accretive to full-year earnings as we remain positive on improving execution and Ambition 2025 progress but the stock seemingly incorporates these key positives.