DA Davidson analyst Kurt Yinger lowered the firm’s price target on TopBuild to $460 from $470 and keeps a Buy rating on the shares after its Q2 earnings miss and a “slight” reduction to 2024 outlook. The firm has also trimmed its 2024/2025 estimates to reflect the updated outlook and tempered organic growth expectations, cutting FY24 EPS view to $21.33 from $21.90 and FY25 view to $22.67 from $23.46, but believes the weakness in the stock is “overdone”, the analyst tells investors in a research note.
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Read More on BLD:
- TopBuild price target lowered to $400 from $435 at Stephens
- TopBuild price target lowered to $445 from $465 at Loop Capital
- TopBuild price target lowered to $395 from $410 at Truist
- TopBuild’s Press Release Avoids Exchange Act Liabilities
- TopBuild lowers FY24 revenue view to $5.3B-$5.5B from $5.36B-$5.56B
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