TopBuild price target lowered to $308 from $329 at Evercore ISI

Evercore ISI lowered the firm’s price target on TopBuild to $308 from $329 and keeps an In Line rating on the shares ahead of Q3 season for homebuilders and housing related companies. Q3 earnings season is “likely to be a downbeat affair,” says the analyst in the group preview. The firm has tempered its outlook for housing starts and resales, and modestly lowered earnings estimates and target prices, to reflect a higher-than-expected rate environment over the next six months, the analyst tells investors.