- 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.
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