Goldman Sachs analyst Jerry Revich raised the firm’s price target on Martin Marietta to $420 from $374 but keeps a Neutral rating on the shares. The analyst states that the company’s Q4 results yielded a positive impression on its prospects to deliver structurally higher unit profitability in 2023 as long-cycle aggregates pricing overtakes input cost inflation. The firm adds however that it remains concerned with volume expectations embedded in consensus estimates and guidance amid a slowdown in residential construction.
Published first on TheFly
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