UBS analyst John Lovallo downgraded Ferguson (FERG) to Neutral from Buy with a price target of $193, down from $230. UBS views the setup for homebuilder stocks in 2025 favorably and believes market sentiment has rapidly shifted towards peak pessimism, which often creates the most attractive buying opportunities for the group, the analyst tells investors in a research note. At the same time, for Ferguson, UBS believes valuation appropriately reflects modest near-term growth.
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