Loop Capital lowered the firm’s price target on Installed Building Products (IBP) to $200 from $210 and keeps a Buy rating on the shares. The company reported a modest Q1 miss and reduced outlook on more conservative residential demand expectations, the analyst tells investors in a research note. Installed Building Products’ installation price/mix was better-than-expected though as fiberglass pricing benefited from carryover of last years mid-year price increases and a sequential improvement in spray foam pricing, the firm added.
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