Core & Main price target raised to $59 from $47 at RBC Capital

RBC Capital raised the firm’s price target on Core & Main to $59 from $47 and keeps an Outperform rating on the shares ahead of its Q4 results. The firm is updating its estimates to account for incremental M&A and a slightly better core backdrop, also noting that the stock has become a well-owned name, the analyst tells investors in a research note. Core & Main remains one of the more compelling medium to long-term stories in its coverage, with potential upside well beyond its over the next several years, RBC added.