Beacon downgraded to Sector Perform from Outperform at RBC Capital

RBC Capital analyst Mike Dahl downgraded Beacon (BECN) to Sector Perform from Outperform with a price target of $124.35, up from $124. The company filed additional disclosures regarding its pending transaction with QXO (QXO), which suggested little interest from potential alternative bidders and that a shifting macro backdrop drove its decision to accept QXO’s offer, the analyst tells investors in a research note. RBC expects a successful consummation of the transaction around the end of April.