Citi analyst Anthony Pettinari upgraded Core & Main to Buy from Neutral with a price target of $48, up from $38. The analyst cites water infrastructure strength and the stock’s relative valuation for the upgrade. The firm says Core & Main deserves a higher multiple given a more favorable end market outlook for water infrastructure and single-family housing, earnings growth equal-or-better than higher-rated distribution peers, and the recent de-risking with ownership reduced following recent secondary.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 55% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See Insiders’ Hot Stocks on TipRanks >>
Read More on CNM:
- Core & Main price target raised to $48, named 2024 Best Idea at Loop Capital
- Top builders and building products stocks for 2024, according to Deutsche Bank
- Core & Main price target raised to $38 from $30 at Truist
- Core & Main price target raised by $11 at Barclays, here’s why
- Core & Main price target raised by $5 at Deutsche Bank, here’s why