Eagle Materials price target lowered to $297 from $311 at Citi

Citi lowered the firm’s price target on Eagle Materials to $297 from $311 and keeps a Buy rating on the shares. While the fiscal Q4 miss was largely driven by weather and proactive maintenance, Citi sees questions around pricing as driving the negative stock reaction, the analyst tells investors in a research note. The firm says Eagle’s cement price in Q4 was below peers as the company saw modest realization on January hikes.