Baird analyst David Manthey raised the firm’s price target on Ferguson to $180 from $172 and keeps an Outperform rating on the shares. The firm said the July-quarter results and initial F2024 guidance were both above expectations, and while revenue growth deceleration and margin normalization is ongoing, the pace/cadence is tracking exactly as guidance/Baird estimates have long contemplated.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See the top stocks recommended by analysts >>
Read More on FERG:
- Options Volatility and Implied Earnings Moves Today, September 26, 2023
- Ferguson sees FY24 revenue broadly flat, consensus $29.41B
- Ferguson reports Q4 adjusted EPS $2.77, consensus $2.46
- Options Volatility and Implied Earnings Moves This Week, September 25 – September 29, 2023
- FERG Earnings this Week: How Will it Perform?