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.
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