Ferguson price target raised to $230 from $197 at Truist

Truist raised the firm’s price target on Ferguson to $230 from $197 and keeps a Buy rating on the shares. The stock fell as the company’s Q2 earnings missed estimates, but the management maintained their FY24 guidance projecting improving trends, the analyst tells investors in a research note. The company also anticipates pricing to be flat for the year, as stabilization has been seen in some commodities, the firm added.