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Builders FirstSource downgraded at RBC Capital on longer trough

As previously reported, RBC Capital analyst Mike Dahl downgraded Builders FirstSource (BLDR) to Sector Perform from Outperform with a price target of $129, down from $132. While stating that the reset to FY25 guidance “should finally de-risk” the near-term, the firm sees a “lower for longer trough” and cut its FY25 and FY26 adjusted EBITDA estimates by 13% and 19%, respectively.

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