Barclays analyst Matthew Bouley raised the firm’s price target on Ferguson (FERG) to $278 from $267 and keeps an Overweight rating on the shares. The firm adjusted targets in the homebuilding and building products group as part of a Q4 earnings preview. The builders could see ongoing margin pressure amid “choppy” demand and elevated inventory, with government policy “driving potential negatives and positives together,” the analyst tells investors in a research note. Barclays remains selective on building products into the Q4 reports.
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