Wolfe Research analyst Nigel Coe upgraded Core & Main to Outperform from Peer Perform with a $40 price target. The analyst walked away from the company’s investor event more confident in its 2024 margin inflection and the commitment to aggressive buybacks “that can be materially accretive.” The firm views this water infrastructure stock as “far too cheap.”
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% 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 today’s best-performing stocks on TipRanks >>
Read More on CNM:
- Core & Main’s even partial progress toward targets is ‘compelling’, says RBC
- Core & Main sees multi-year demand tailwinds from IIJA, says Loop Capital
- Core & Main sees sales growing 9% CAGR to reach about $10B by FY28
- Core & Main to host investor day
- Core & Main 18M share Spot Secondary priced at $29.15