TopBuild price target lowered to $320 from $340 at Stephens

Stephens lowered the firm’s price target on TopBuild (BLD) to $320 from $340 and keeps an Equal Weight rating on the shares. While “encouraged” by the relative margin and pricing resiliency in a tough environment, increased uncertainty around the timing of an eventual turn in housing keeps the firm on the sidelines, though it views TopBuild as well-positioned to outperform once demand improves, the analyst tells investors.