Arcosa price target raised to $80 from $75 at Loop Capital

Loop Capital raised the firm’s price target on Arcosa to $80 from $75 and keeps a Buy rating on the shares. The company’s Q1 results saw all segments outperforming, and its construction products were notably much better than anticipated due to strong price/cost performance, which offset lower volumes, the analyst tells investors in a research note. The acceleration in wind and barge orders above and beyond the new $800M wind contract that was announced last month also provides improved visibility into FY24, Loop Capital added.