Eagle Materials price target raised to $290 from $240 at Loop Capital

Loop Capital raised the firm’s price target on Eagle Materials to $290 from $240 and keeps a Buy rating on the shares as part of a broader research note in Wallboard. The March quarter is off to a slower-than-expected start due to poor weather, but project delays should be recovered over the next few months, the analyst tells investors in a research note. If demand improves and supply tightens in March and April in part to the pent-up demand from early-year delays along with a stronger single-family housing market, average wallboard prices may move higher over the next 1-2 months by 1%-3% at least, the firm added.