Core & Main price target raised to $63 from $52 at Loop Capital

Loop Capital raised the firm’s price target on Core & Main to $63 from $52 and keeps a Buy rating on the shares. The company reported a strong Q3 beat with better-than-expected top and bottom line results, the analyst tells investors in a research note. Core & Main’s new project starts in its core municipal end market also improved sequentially, and the company reported an increase in bidding activity for IIJA funded projects during the quarter, which is expected to accelerate into FY25, Loop adds.