JPMorgan downgraded Martin Marietta to Neutral from Overweight with a price target of $600, up from $530 as part of a broader research note on U.S. Construction Materials. The rating change is “based solely on valuations” and does not reflect the company’s “very solid fundamentals, the analyst tells investors in a research note. The firm adds that there’s still room for positive surprises for the stock on this year’s results coming from stronger-than-expected pricing and potentially volumes, which also implies “better margins.
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