Atkore price target raised to $190 from $170 at Loop Capital

Loop Capital analyst Chris Dankert raised the firm’s price target on Atkore to $190 from $170 and keeps a Buy rating on the shares. The company posted a strong start to FY24 with a Q1 EPS and EBITDA beat, though Q2 is being negatively impacted by a modest pull-forward of demand and unfavorable winter weather, the analyst tells investors in a research note. Atkore still reiterated FY24 EBITDA guidance however as ramping solar torque tube production, firming pricing, favorable seasonality, and major project activity supports improved earnings growth into the back-half of the year, the firm added.