Builders FirstSource price target lowered to $156 from $175 at Stifel

Stifel analyst W. Andrew Carter lowered the firm’s price target on Builders FirstSource (BLDR) to $156 from $175 and keeps a Buy rating on the shares. Initial FY25 guidance was “as bad as feared,” says the analyst, who continues to recommend the shares given what the firm regards as “an underwhelming valuation overweighting near-term uncertainty.” However, the firm believes signs of stabilization and improvement for new residential construction are necessary absent positive updates from the company, the analyst added.