TopBuild price target lowered to $435 from $460 at BofA
The Fly

TopBuild price target lowered to $435 from $460 at BofA

BofA analyst Rafe Jadrosich lowered the firm’s price target on TopBuild (BLD) to $435 from $460 and keeps a Buy rating on the shares. Q3 adjusted EPS beat the firm’s estimate and consensus, but the company lowered the high-end of 2024 EBITDA guidance to reflect spray foam headwinds and slower multi-family activity, the analyst tells investors. The firm cites lower sector multiples for its lower target, but reiterates a Buy rating given market share gains and relative outperformance of insulation compared to other building product categories.

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