SiteOne Landscape upgraded to Equal Weight from Underweight at Barclays

Barclays upgraded SiteOne Landscape (SITE) to Equal Weight from Underweight with a price target of $134, up from $120. The firm adjusted ratings in the homebuilding and building products group as part of its 2026 outlook. Barclays expects another year of declines in single-family housing starts, saying the housing market “remains far from balanced.” This leaves the homebuilder stocks “volatile, with no cycle call to be made,” the analyst tells investors in a research note. Barclays believes building products and brokerage names can outperform despite weakness in new residential. It views building products and distributors as more compelling than homebuilders entering 2026.