Builders FirstSource price target lowered to $140 from $145 at Stephens

Stephens analyst Trey Grooms lowered the firm’s price target on Builders FirstSource (BLDR) to $140 from $145 and keeps an Overweight rating on the shares. The second half outlook is predicated on a typical seasonal demand curve, higher lumber prices, and M&A contribution, and does not bake in an end-market uptick or material change in current competitive environment, notes the analyst, who views the updated guidance as “doable, assuming competitive behavior in the market doesn’t see a meaningful change in the wrong direction.”