Eagle Materials price target lowered to $265 from $270 at Loop Capital

Loop Capital analyst Garik Shmois lowered the firm’s price target on Eagle Materials to $265 from $270 and keeps a Buy rating on the shares as part of a broader research note on Construction Materials. The firm is adjusting its estimates heading into Q2 earnings to account for poor weather, end-market deceleration, and its modest tweaks lower on both mid-year and 2025 pricing assumptions, the analyst tells investors in a research note. Loop adds however that it remains Buy-rated on the group, noting that the risk factors are already largely anticipated given the broad share price pullback in the space, also noting that despite the weaker midterm outlook, the firm still sees high-single-digit earnings growth for most names into 2025.