TopBuild price target lowered to $360 from $370 at Loop Capital

Loop Capital lowered the firm’s price target on TopBuild (BLD) to $360 from $370 and keeps a Buy rating on the shares. The company’s Q1 earnings beat was driven by better-than-expected specialty distribution results which offset weaker installation volumes, the analyst tells investors in a research note. Loop adds however that the company reduced its FY25 residential sales expectations to high single digit declines vs. mid-single-digits previously due to a more conservative single-family outlook and included YTD M&A sales contributions.