BUZZ-UFP Industries shares rise after Wedbush upgrades to "outperform"

Reuters
08 Oct 2024

** Shares of UFP Industries rise 2.5% at $132 premarket on Wedbush upgrade

** Brokerage upgrades UFPI to "outperform" from "neutral"

** Also raises UFPI target price to $155 from $120, representing a 19% upside to stock's last close

** Says two of company's three core segments, UFP Construction (construction) and UFP Retail (retail) can post mid-single-digit revenue growth in FY25

** Adds Packaging should grow in line with U.S. gross domestic product $(GDP)$, which is expected to grow 1.8% in 2025 and 2.0% in 2026

** "We believe that the other two segments have the potential for revenue and EPS growth above packaging because of a potential positive inflection in lumber prices" - Wedbush

** Three of five brokerages rate the stock "buy" or higher, two "hold"; their median PT is $153 - LSEG data

** Up to last close, stock up 3% YTD

(Reporting by Anshuman Tripathy in Bengaluru)

((Anshuman.Tripathy@thomsonreuters.com;))

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Most Discussed

  1. 1
     
     
     
     
  2. 2
     
     
     
     
  3. 3
     
     
     
     
  4. 4
     
     
     
     
  5. 5
     
     
     
     
  6. 6
     
     
     
     
  7. 7
     
     
     
     
  8. 8
     
     
     
     
  9. 9
     
     
     
     
  10. 10