Wedbush lowered the firm’s price target on Builders FirstSource (BLDR) to $145 from $190 and keeps an Outperform rating on the shares. For Q2, the firm lowered its revenue and AEBITDA outlook. Wedbush believes weaker oriented strand board pricing since the end of Q1 and double-digit percentage declines in South and West starts in Q2 may equate to lower results in Q2 than previously expected. The firm also believes the 25% year-to-date pullback in Builders FirstSource’s shares versus a 1% gain for the S&P 500 has priced in the Q2 sales trends.
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