Truist lifts TopBuild PT on strong backlog

Truist raise PT on commercial roofing firm TopBuild BLD.N to $410 from $390, reiterates rating at "hold"

New PT implies a downside of 12.4% from the stock's last close

Says co's bidding and backlogs remain solid in insulation and roofing, even as residential stays weak

However, Benchmark cuts BLD PT to $500 from $515

Benchmark says BLD's softer volume and pricing are tightening margins, with residential weakness weighing on profitability despite modest help from recent acquisitions

Twelve of 16 brokerages rate the stock "buy" or higher, four "hold"; their median PT is $522.50- data compiled by LSEG

As of last close, stock had risen 12.2% YTD