Installed Building Products rises on Goldman Sachs upgrade

Installed Building Products,

16/11/2023 14:53

** Shares of Installed Building Products Inc  IBP.N  rise
~3% to $141.25
    ** Goldman Sachs raises rating on the installer of
insulation and other building products to "buy" from "neutral",
as it sees sales volume reacceleration, owing to a rise in new
home construction
    ** Brokerage also sees improving price/cost dynamics after
two years of elevated inflation
    ** Raises price target to $178 from $146, representing a
~30% upside to the stock's last close at $137.42
    ** Six of twelve brokerages rate the stock "buy" and rest
"hold"; their median PT is $162.50
    ** Up to Wednesday's close, stock had risen 64% YTD

 (Reporting by Aatreyee Dasgupta)
 ((Aatreyee.Dasgupta@thomsonreuters.com))