Jefferies analyst Philip Ng lowered the firm’s price target on TopBuild (BLD) to $515 from $525 and keeps a Buy rating on the shares. For the building products group, the firm is trimming estimates to reflect the near-term headwinds given the wet weather and weaker housing starts, adding in its preview that the stocks could be choppy on earnings. However, the firm adds that it remains upbeat on 2025 with rates coming down and sees laggards such as Martin Marietta (MLM), Vulcan Materials (VMC), Summit Materials (SUM) and TopBuild (BLD) as poised for a relief rally on earnings.

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