JPMorgan raised the firm’s price target on TopBuild (BLD) to $398 from $344 and keeps an Overweight rating on the shares after the company acquired Progressive Roofing. The firm views the acquisition positively, saying it represents a new growth opportunity for TopBuild in a “large, less cyclical and highly fragmented market.”
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Read More on BLD:
- TopBuild’s Strategic Expansion and Financial Strength Drive Buy Rating
- TopBuild price target raised to $400 from $320 at BofA
- TopBuild’s Strategic Acquisition of Progressive Roofing: A Buy Rating for Growth and Diversification
- TopBuild Acquires Progressive Roofing for $810 Million
- TopBuild to acquire Progressive Roofing for $810M in cash