Core & Main meetings reinforce key positive aspects of the story, says Baird

Baird analyst David Manthey made no change to the firm’s Outperform rating or $34 price target on Core & Main and recommends buying shares at current levels following recent investor meetings with management. Core & Main reinforced key positive aspects of the story at the meetings, including an attractive industry structure, overall relative pricing stability expectations, incremental growth opportunities from IIJA, and value accretive M&A, the analyst tells investors in a research note.