Installed Building Products (IBP) stock experienced a significant 5.05% plummet during Monday's intraday trading session, as analysts at Benchmark lowered their price target on the company's shares.
Benchmark, a well-known research firm, reduced its price target on Installed Building Products from $250 to $210, while maintaining a "Buy" rating on the stock. This downward revision in the price target suggests that analysts have become less optimistic about the company's future prospects and growth potential.
Despite the lower price target, Benchmark's "Buy" rating indicates that the firm still sees value in Installed Building Products at the revised target price. However, the market reacted negatively to the news, with IBP's shares plunging 5.05% in response to the analyst's reassessment.
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