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UPDATE: Beacon Roofing Supply Upgraded At Longbow

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In a report issued Monday, Longbow upgraded Beacon Roofing Supply (NASDAQ: BECN) to a Buy rating with a target price of $42.

Analyst Neil Frohnapple sees that accelerating revenue growth and improving gross margin should continue to drive shares of Beacon higher, while current levels offer a "compelling buying opportunity."

Frohnapple sees that Beacon has the potential to double its amount of branches open in the next five years, which would also continue to drive shares higher in the future.

Beacon Roofing Supply opens Monday at $33.56.

Latest Ratings for BECN

DateFirmActionFromTo
Dec 2021Raymond JamesUpgradesMarket PerformOutperform
Nov 2021Truist SecuritiesDowngradesBuyHold
Oct 2021RBC CapitalUpgradesSector PerformOutperform

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Posted-In: Longbow Neil FrohnappleAnalyst Color News Upgrades Price Target Analyst Ratings

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