Builders FirstSource (BLDR) PT Raised to $240 at Barclays

Barclays analyst Matthew Bouley raised the price target on Builders FirstSource (NYSE: BLDR) to $240.00 (from $235.00) while maintaining a Overweight rating.

The analyst commented, "Our $240 price target ($235 previously) represents 11.9x (11.6x previously) our FY’24E EBITDA estimate of $2.7 bn (removing $52 mn of stock comp. We increase our multiple reflecting potential for both near-term earnings upside as well as stronger longer-term earnings power reflecting structural improvements across the business."

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