SiteOne Landscape price target lowered to $106 from $120 at Barclays

Barclays lowered the firm’s price target on SiteOne Landscape (SITE) to $106 from $120 and keeps an Underweight rating on the shares as part of a Q1 earnings preview for the homebuilding and building products group. The firm reduced housing starts assumptions and cut homebuilder and building products estimates. It expects guidance cuts, saying a “choppier” macro environment will weigh across end markets. Tariff uncertainty adds further risk to margin guides, especially for select products names, the analyst tells investors in a research note.