Beacon Roofing Supply (BECN) PT Raised to $124.25 at Truist; 'Stock All About QXO Bid'

Truist Securities analyst Keith Hughes raised the price target on Beacon Roofing Supply (NASDAQ: BECN) to $124.25 (from $95.00) while maintaining a Hold rating.

The analyst commented: "Guide As Expected For 2025 With Weather Driven Slow Start; Stock All About QXO Bid; BECN was down about half a percent intraday (SPX flat) on results that were somewhat lighter than Street and 2025 guidance that was about in line. The new year appears to have started off slow given unfavorable and cold weather especially in some geographies with typically more mild winters, but management does see activity levels picking up into March. Regardless, the near term story on this stock is the ongoing battle with QXO (QXO, NR). We are raising our price target to $124.25 from $95 to match the offer price from QXO."

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