QXO price target lowered to $28 from $30 at RBC Capital

RBC Capital analyst Mike Dahl lowered the firm’s price target on QXO (QXO) to $28 from $30 and keeps an Outperform rating on the shares. The firm is updating its model to reflect softness in housing macro and year-to-date roofing business, the analyst tells investors in a research note. RBC adds, however, that it sees potential for roofing volumes and price to improve through the year.