Builders FirstSource Faces Near-Term Challenging Sales Volumes, Wedbush Says
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Builders FirstSource (BLDR) faces near-term sales volume challenges due to persistent new home inventories and lower lumber prices, according to Wedbush Securities. The brokerage downgraded its stock rating to neutral from outperform, maintaining a $145 price target. The outlook for single-family starts remains unpromising for 2025 and 2026, and lumber prices have not increased as expected, potentially impacting Q3 results. Shares fell 1.5% in early trading, priced at $140.63.
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