Analysts Bump Up Price Target For Builders FirstSource Post Investor Day Meeting

Benchmark analyst Reuben Garner raised Builders FirstSource, Inc. BLDR price target to $125 from $100, suggesting 62% upside, and maintained a Buy rating on the shares following the company's investor day meeting.
The analyst says the investor day meeting "did nothing but pour fuel on our belief this is the best play on new single-family housing."
While noting that the stock has nearly doubled this year, Garner reiterates Builders FirstSource as a Top Pick, mentioning that he has "never been more convinced the business warrants a better multiple on the base business than it receives today."
BMO Capital analyst Ketan Mamtora raised the price target to $92 (an upside of 20%) from $76 and maintained an Outperform rating on the shares.
The analyst says Builders FirstSource's Analyst Day presentation left him "more encouraged" about its multi-year growth runway and margin expansion opportunity in value-added products.
Mamtora mentions while Builders' strategy to accelerate digital adoption in the homebuilding industry is in the early stages, he is also becoming "more positive" on those efforts.
Barclays analyst Matthew Bouley raised the price target to $98 (an upside of 27%) from $90 and maintained an Overweight rating on the shares.
Bouley mentions that he came away from Builders' investor day with the further conviction that the company is a "true growth story that is not nearly being valued as a growth company."
The analyst says the new guidance framework outlined "accelerated value-add penetration," incremental business from scaling the software platform, and tangible productivity initiatives.
Price Action: BLDR shares are trading higher by 1.14% at $76.86 on the last check Wednesday.

Market News and Data brought to you by Benzinga APIs

Comments

Analyst Calendar

Popular Channels

Tools & Features

Partners & Contributors

About Benzinga