Simpson Manufacturing price target raised to $218 from $202 at Baird

Baird analyst Timothy Wojs raised the firm’s price target on Simpson Manufacturing (SSD) to $218 from $202 and keeps an Outperform rating on the shares as part of a Q3 earnings preview for the residential building products group. Channel checks remain mixed, with respondents indicating slightly worse trends, but year-over-year growth less bad across surveyed categories, the analyst tells investors in a research note. The firm says that while near-term trends remain mixed, it expects investors to look through Q3 results for the group, as focus turns toward a potential recovery beginning in 2025.