UFP Industries price target lowered to $135 from $155 at Wedbush

Wedbush lowered the firm’s price target on UFP Industries (UFPI) to $135 from $155 and keeps an Outperform rating on the shares. Coming out of the Q1 conference call, the firm believes the good news around price increases for Prowood and improving activity levels into Q2 were encouraging. Assuming that the balance of FY25 trends similarly to Q1, Wedbush tweaked its revenue assumptions down slightly and took a more conservative approach to gross margin. The firm is also concerned about the price inflation in southern yellow pine.