Eagle Materials price target raised to $290 from $250 at Truist

Truist analyst Keith Hughes raised the firm’s price target on Eagle Materials to $290 from $250 and keeps a Buy rating on the shares. The company’s recent agreement with Terra CO2 provides access to a potential replacement for fly ash in concrete and a longer term a replacement for cement itself as its products emit much less carbon in their manufacturing process than traditional cement as well as providing a cost advantage, the analyst tells investors in a research note. This is likely “a very long term initiative” for all involved and will take time to have an impact, the firm added.