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.
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