Atkore price target raised to $170 from $150 at Loop Capital

Loop Capital analyst Chris Dankert raised the firm’s price target on Atkore to $170 from $150 and keeps a Buy rating on the shares after its Q1 earnings beat and raised guidance. The company’s updated outlook demonstrates continued confidence in its ability to execute on its price/cost expectations for the year, along with improved backdrop, the analyst tells investors in a research note. The firm further notes that medium-term tailwinds are expected from the Inflation Reduction Act and from the Infrastructure & Jobs Act into FY24 and beyond.