Core & Main price target raised to $58 from $48 at Loop Capital

Loop Capital analyst Jeffrey Stevenson raised the firm’s price target on Core & Main to $58 from $48 and keeps a Buy rating on the shares ahead of its Q4 results. The company got off to a strong start in Q4 as an extended construction season in December helped offset adverse January weather, which delayed project activity in multiple regions across the country, the analyst tells investors in a research note. Loop adds that it is also increasing its FY24 outlook to above consensus on improved revenue expectations, forecasting 5% revenue growth to $7.01B.