TopBuild price target lowered to $395 from $435 at DA Davidson

DA Davidson analyst Kurt Yinger lowered the firm’s price target on TopBuild (BLD) to $395 from $435 but keeps a Buy rating on the shares. The company reported a modestly better than expected Q1 and reiterated full-year guide, lending confidence to what will remain a relatively stable performance even in a choppy residential backdrop, the analyst tells investors in a research note. The firm adds however that its reduced price target is reflecting greater uncertainty around the NT trajectory of underlying residential demand.