BlueLinx price target lowered to $80 from $119 at DA Davidson

DA Davidson lowered the firm’s price target on BlueLinx (BXC) to $80 from $119 and keeps a Buy rating on the shares. The company reported a slightly softer than anticipated Q1 performance, and the firm is lowering its forecasts to reflect moderated demand assumptions for the year, as well as lower Specialty margins, reflecting some increased competitive pressures, the analyst tells investors in a research note. The firm adds however that it remains positive on the stock given its discounted valuation on trough-like profitability and significant upside potential upon a cyclical demand recovery.