Arcosa price target raised to $88 from $80 at Loop Capital

Loop Capital analyst Garik Shmois raised the firm’s price target on Arcosa to $88 from $80 and keeps a Buy rating on the shares. The company’s Q2 earnings beat and narrowed outlook represent a steady march higher with earnings growth driven by improving mid-term fundamentals in aggregates and utilities as well as the faster than previously expected recovery in its cyclical businesses, the analyst tells investors in a research note.