BofA analyst Rafe Jadrosich raised the firm’s price target on TopBuild (BLD) to $400 from $320 and keeps a Buy rating on the shares. TopBuild announced an agreement to acquire Progressive Roofing, a leader in commercial roofing installation and aftermarket services, in an all-cash transaction valued at $810M, the analyst tells investors in a research note. BofA has a favorable view of the deal.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on BLD:
- TopBuild Acquires Progressive Roofing for $810 Million
- TopBuild to acquire Progressive Roofing for $810M in cash
- TopBuild: Buy Rating Affirmed Amid Strong Capital Allocation and Market Share Potential
- TopBuild Expands Credit Facilities to Boost Liquidity
- TopBuild extends, upsizes senior secured credit facilities