Barclays analyst Matthew Bouley raised the firm’s price target on Core & Main to $38 from $37 and keeps an Overweight rating on the shares. The analyst expects outperformance from homebuilders and residential distributors to continue this earnings season, reflecting positive earnings revisions in an improving new residential construction market. Building products also have earnings upside versus “conservative” guides, but with low visibility to a “true fundamental inflection,” the analyst tells investors in a research note. The firm says upward momentum in the new residential construction end market compares to mixed trends in residential repair-and-remodel.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% 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 the top stocks recommended by analysts >>
Read More on CNM:
- Core & Main chief HR officer Schneider sells 49,904 class A shares
- Core & Main meetings reinforce key positive aspects of the story, says Baird
- Core & Main initiated with a Buy at Northcoast
- Core & Main to acquire Dangelo Co., terms not disclosed
- Core & Main price target raised to $44 from $42 at Deutsche Bank