Loop Capital analyst Jeffrey Stevenson raised the firm’s price target on Core & Main to $64 from $58 and keeps a Buy rating on the shares. The analyst cites the company’s Q4 earnings beat and better than expected FY24 adjusted EBITDA guidance of $925M to $975M, which assumes low-single-digit organic volume growth and stable overall pricing. Loop adds that it was encouraged by the improvement in Q4 single-family lot development, which is expected to continue moving forward given the recent strength in single-family housing starts and permits.
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