Builders FirstSource (BLDR) PT Lowered to $178 at RBC Capital

RBC Capital analyst Mike Dahl lowered the price target on Builders FirstSource (NYSE: BLDR) to $178.00 (from $193.00) while maintaining a Outperform rating.

The analyst comments "We lower FY'24E/'25E Adj. EBITDA by another -8%/-4%. The meaningful cut to guidance represents a long-awaited reset which we’ve been wary of, with a low enough EBITDA range to reflect NT realism and even potentially some needed conservatism, though also offering a high enough GM% exit rate to fend off bear fears for now. We view this as an important level-setting. Lower PT to $178 from $193. Remain OP."

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