Builders FirstSource (BLDR) Added to FBR Alpha Generator List
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FBR Capital analyst Alex Rygiel added Builders FirstSource (NASDAQ: BLDR) to the FBR Alpha Generator. The firm reiterated an Outperform rating and price target of $15.
Rygiel commented, "We are adding Builders FirstSource to the FBR Alpha Generator as we believe the stock has the potential to outperform our coverage list of other building materials, homebuilders, and specialty contractors. We believe that in an improving housing market, particularly one that appears to be shifting toward single-family homes, the company will generate meaningful free cash flow, which will be used to de-lever the balance sheet. This should drive the stock price higher on the same valuation multiple, creating a higher beta versus general housing market growth. As investors gain a greater appreciation for the favorable trend toward single-family housing growth, as well as company-specific actions to reduce costs and de-lever the balance sheet, we expect the share price to respond positively over the next six months."
Shares of Builders FirstSource closed at $11.14 yesterday.
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