RBC Capital analyst Andrew Brooke raised the firm’s price target on Ferguson to $177 from $159 and keeps an Outperform rating on the shares after its Q4 earnings beat. The company’s FY24 guide is calling for flattish top-line and only modest margin contraction, and while risks remain particularly for organic price and volume in the second half of the year, Q1 is tracking more resilient than the firm expected, the analyst tells investors in a research note.
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- Ferguson price target raised to $180 from $172 at Baird
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