Patrick Industries price target raised to $63 from $53 at BofA

BofA raised the firm’s price target on Patrick Industries to $63 from $53 and keeps an Underperform rating on the shares despite "its recent solid execution," citing a worsening outlook for its key end markets of RV, marine and housing. Sales should be "relatively resilient" given lean channel inventory, but end market demand will likely soften in a more challenging macro environment, the firm contends.