0841 ET - A pullback among building product firms offer a buying opportunity, says Jefferies in a research note. Building products rallied over the summer when inflation appeared to be on the decline but sentiment has soured since December, say the analysts. Now that the market has priced in a muted growth backdrop, the risk to reward profile looks more compelling, they add. "In particular, the pullback in Ferguson Enterprises, Martin Marietta Materials, TopBuild, Fortune Brands Innovations and Builders FirstSource seem outsized, which have created attractive entry points to quality names that should show good resiliency in the current backdrop," the analysts say. (denny.jacob@wsj.com; @pennedbyden)
(END) Dow Jones Newswires
January 07, 2025 08:41 ET (13:41 GMT)
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