Core & Main price target lowered to $53 from $62 at Baird

Baird lowered the firm’s price target on Core & Main to $53 from $62 and keeps an Outperform rating on the shares. The firm said they reported soft 2QF24 results and lowered full-year guidance. The near-term setup could remain challenging given soft end markets and lingering PVC price concerns following a recently filed lawsuit where the company is not a defendant but could see fallout from lower pricing.