DA Davidson analyst Brent Thielman raised the firm’s price target on Martin Marietta to $450 from $380 and keeps a Buy rating on the shares after its Q4 results. Beyond the tough volume compares and EBITDA variance, the company’s gross margin recovery and average selling price acceleration in Aggregates in Q4 are meaningful highlights for Martin Marietta, the analyst tells investors in a research note. The firm adds that the company’s Q4 metrics and margins lend confidence in 2023 financial trajectory and that expectations of ‘flat’ volumes seem "surpassable".
Published first on TheFly
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