Goldman Sachs lowered the firm’s price target on Core & Main to $50 from $57 and keeps a Neutral rating on the shares. The company’s Q2 EBITDA miss was driven by lower volumes from wet weather conditions as well as weakening end-market conditions, the analyst tells investors in a research note. The management’s guidance cut was also prudent given the volume headwinds in the second half of the year and higher SG&A levels persisting due to more M&A, the firm added.
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