TopBuild Corp (BLD) PT Lowered to $435 at DA Davidson

DA Davidson analyst Kurt Yinger lowered the price target on TopBuild Corp (NYSE: BLD) to $435.00 (from $450.00) while maintaining a Buy rating.

The analyst commented, "Exiting 4Q24 earnings and recent management meetings we are lowering our admittedly aggressive prior 2025 forecasts, but reiterate TopBuild as our top mid to long-term idea within building products. We see current valuation (8x-9x 2025E/2026E EBITDA) as highly attractive given resilient fundamentals, largely stable material pricing, the ability to continue to extract value from labor intensive, service oriented installation, and meaningful capital deployment optionality. Acknowledging limited NT catalysts, we believe patience will be rewarded as we move through 2025."

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