Builders FirstSource initiated with an Outperform at Raymond James

Raymond James initiated coverage of Builders FirstSource (BLDR) with an Outperform rating and $180 price target Some of the items underpinning the firm’s constructive thesis include the company’s “clear and significant” relative scale advantages, the “clear and demonstrated value-add” provided to customers in its preassembly manufacturing and the fact that “dire” price, volume and margin outcome are “seemingly baked into the stock at current levels,” the analyst tells investors.