Truist raised the firm’s price target on Core & Main to $38 from $30 and keeps a Hold rating on the shares. The company’s Q3 results were in line with its earlier pre-announcement and suggest a flattish year in EBITDA in 2024, with questions on more commodity deflation and a non-residential business slowdown holding back the stock, the analyst tells investors in a research note. The firm adds however that these questions should be cleared up by mid-2024.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 55% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See Insiders’ Hot Stocks on TipRanks >>
Read More on CNM:
- Core & Main 15M share Spot Secondary priced at $35.80
- Core & Main price target raised to $42 from $38 at Loop Capital
- Core & Main prices Spot Secondary at $35.80 per share, Bloomberg reports
- Core & Main 15M share Spot Secondary; price range $35.80-$36.25
- Core & Main announces offering of 15M shares of Class A common stock for holders