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Builders FirstSource price target lowered to $125 from $135 at DA Davidson

DA Davidson lowered the firm’s price target on Builders FirstSource (BLDR) to $125 from $135 and keeps a Neutral rating on the shares after its Q2 results and guidance cut. The company’s resilient gross margin performance is seemingly “offsetting” a meaningful downward revision to the full-year EBITDA guide, though on the positive side, results serve as another data point supporting the notion that there are meaningful lasting gross margin improvements relative to pre-Covid levels, the analyst tells investors in a research note.

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