Eagle Materials upgraded to Buy from Hold at Loop Capital

Loop Capital upgraded Eagle Materials to Buy from Hold with a price target of $240, up from $170. The firm has seen wallboard prices stabilize over the last several months and it believes the recently announced price increase for late January/early February should at least keep prices flat from here. Any traction would offer upside Eagle’s model, the analyst tells investors in a research note. The firm says the company’s valuation and balance sheet are attractive.