Jefferies downgraded Builders FirstSource (BLDR) to Hold from Buy with a price target of $110, down from $138. The firm says that with the residential market expected to remain soft to start 2026, it prefers consumer-facing companies that have pricing power and are trading at discounted multiples. With a “weak” consumer and inventory still elevated for the production builders, Jefferies sees risk of margins getting squeezed and downgraded Builders FirstSource.
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