Citi raised the firm’s price target on Vulcan Materials to $322 from $263 and keeps a Buy rating on the shares. The analyst updated models in the building products and homebuilding group ahead of the Q1 earnings reports. The firm prefers heavy materials citing potential for “beat-and-raise” quarters over the course of the year on strong pricing and Infrastructure Investment and Jobs Act flow-through. Among homebuilders, Citi has a relative preference for larger production builders that have lagged year-to-date.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on VMC:
- Vulcan Materials price target raised to $320 from $300 at Truist
- Vulcan Materials downgraded to Neutral from Overweight at JPMorgan
- Vulcan Materials management to meet with Stephens
- Vulcan Materials files automatic mixed securities shelf
- Vulcan Materials downgraded to Peer Perform at Wolfe Research after rally