Builders FirstSource price target lowered to $93 from $100 at BMO Capital

BMO Capital lowered the firm’s price target on Builders FirstSource (BLDR) to $93 from $100 and keeps a Market Perform rating on the shares after its Q1 earnings miss. The company is executing well against a tough housing backdrop, with encouraging signs of stabilization in trusses and Engineered Wood Products, the analyst tells investors in a research note. A weak housing backdrop, competitive markets, inflationary pressures against an already stretched consumer, and revised guidance that is second-half-weighted are among the near-term challenges, the firm added.