Loop Capital starts Core & Main with Buy on balanced end market mix

Loop Capital analyst Jeffrey Stevenson last night initiated coverage of Core & Main with a Buy rating and $28 price target. The company’s "balanced end market exposure and reset expectations more than offset transitory margin headwinds," the analyst tells investors in a research note. The firm believes Core & Main’s end market mix, with half of its sales coming from "less cyclical nondiscretionary R&R" will help the company navigate an uncertain macroeconomic environment.