Builders FirstSource price target lowered to $170 from $180 at Raymond James

Raymond James lowered the firm’s price target on Builders FirstSource (BLDR) to $170 from $180 and keeps an Outperform rating on the shares. While near-term volume softness and the non-zero risk of significant tariff and installation labor impacts partially tempers the firm’s enthusiasm for the shares, the favorable re-rating over recent years is deserved and durable, and the firm’s analysis of relative performance suggests upside if gross margins only hold from here, the analyst tells investors in a research note.