Eagle Materials price target raised to $220 from $195 at Truist

Truist analyst Keith Hughes raised the firm’s price target on Eagle Materials to $220 from $195 and keeps a Buy rating on the shares. Shares fell after the company’s Q1 earnings miss last week, but overall results continue to be favorable as cement pricing remains strong and wallboard results are slowing much less than expected, the analyst tells investors in a research note. The bottom on wallboard will come in next two to three quarters, and with the shallower bottom in price, there is no substantial contraction in earnings expected during this period, the firm added.