Wells Fargo initiated coverage of Builders FirstSource (BLDR) with an Equal Weight rating and $115 price target The firm notes Builders FirstSource is the largest product/component distributor in new build. This presents investors with the best of both worlds, namely leverage to potential start recovery, but without all the builder baggage. With that said, Wells says that near-term start volatility and margin risk should builders seek out additional savings keep the firm sidelined for now.
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