Loop Capital raised the firm’s price target on Core & Main to $48 from $42 and keeps a Buy rating on the shares. The firm also names the stock as one of its 2024 Best Ideas, stating that it has a number of catalysts that will drive continued outperformance in the coming year. Core & Main has multiple demand tailwinds in its core municipal and residential end markets, which should drive positive end market volume growth in FY24, the analyst tells investors in a research note. Pricing is also expected to remain relatively stable going forward given the nondiscretionary nature of commodity-based products, Loop Capital added.
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