Barclays analyst Matthew Bouley raised the firm’s price target on Core & Main to $49 from $38 and keeps an Overweight rating on the shares. The company’s Q3 gross margins proved resilient again, as was expected from the pre-announcement, the analyst tells investors in a research note. The firm expects the company to continue benefiting from initiatives like sourcing optimization, pricing analytics, and private label into year end and 2024.
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