Builders FirstSource price target lowered to $180 from $220 at Truist

Truist lowered the firm’s price target on Builders FirstSource (BLDR) to $180 from $220 but keeps a Buy rating on the shares after its Q4 earnings and FY25 outlook. The guidance range will drive Street numbers lower, particularly with a very slow Q1 view, even though this was not totally unexpected, the analyst tells investors in a research note. Gross margin has been trending down but remains toward the top half of the 30%-32% range and well above pre-Covid numbers, Truist adds.