Builders FirstSource price target lowered to $135 from $137 at Barclays

Barclays lowered the firm’s price target on Builders FirstSource (BLDR) to $135 from $137 and keeps an Overweight rating on the shares after Q2 earnings. Barclays contends that cyclical volume pressure drove estimates lower, but second half top line is now significantly de-risked. The firm told investors in a research note that the long-term story is intact with management seeing stabilizing market share and margins, supportive of upside when the market recovers. Barclays added that management hinted at green shoots in the multifamily market.