IBP's Strong Footing In Multi-Family And Commercial Markets, Analyst Sees Future Growth Opportunities
Portfolio Pulse from Nabaparna Bhattacharya
Truist Securities analyst Keith Hughes reiterated a Buy rating on Installed Building Products, Inc. (NYSE:IBP), raising the price target to $170 from $140. IBP's Q2 earnings beat estimates, with positive price/mix driven by growth in multi-family and commercial sectors. Hughes expects installation in single-family demand to be a growth story in 2024. The analyst raised the EBITDA estimate for FY23 to $437 million and for FY24 to $472 million.
August 04, 2023 | 2:10 pm
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Installed Building Products, Inc. (NYSE:IBP) has had its price target raised to $170 from $140 by Truist Securities analyst Keith Hughes. The company's Q2 earnings beat estimates and growth is expected in the multi-family and commercial sectors.
The news of a price target increase by a reputable analyst, along with positive Q2 earnings and expected growth in key sectors, is likely to have a positive impact on IBP's stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100