BUZZ-Truist lifts TopBuild PT on strong backlog

Reuters02-27
BUZZ-Truist lifts TopBuild PT on strong backlog

** Truist raise PT on commercial roofing firm TopBuild BLD.N to $410 from $390, reiterates rating at "hold"

** New PT implies a downside of 12.4% from the stock's last close

** Says co's bidding and backlogs remain solid in insulation and roofing, even as residential stays weak

** However, Benchmark cuts BLD PT to $500 from $515

** Benchmark says BLD's softer volume and pricing are tightening margins, with residential weakness weighing on profitability despite modest help from recent acquisitions

** Twelve of 16 brokerages rate the stock "buy" or higher, four "hold"; their median PT is $522.50- data compiled by LSEG

** As of last close, stock had risen 12.2% YTD

(Reporting by Apratim Sarkar in Bengaluru)

((Apratim.Sarkar@thomsonreuters.com))

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