Core & Main price target raised to $60 from $59 at RBC Capital

RBC Capital analyst Mike Dahl raised the firm’s price target on Core & Main to $60 from $59 and keeps an Outperform rating on the shares. The company’s FY24 EBITDA guide of $925M-$975M is striking the right balance of a strong top-line and an EBITDA range consistent with investor expectations, with an underlying margin guide likely to be viewed as “rough/beatable”, the analyst tells investors in a research note. RBC maintaints its view of Core & Main as “one of the more compelling” medim-to-long term investment stories in its coverage.