Citi raised the firm’s price target on Martin Marietta to $573 from $513 and keeps a Buy rating on the shares. The analyst updated estimates and top picks in the homebuilding and building products group as part of its 2024 outlook. The firm is selectively positive on homebuilders given mortgage rate and share gain tailwinds, but says some valuations are starting to appear full. Citi’s least preferred sub-sector is building products.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See Insiders’ Hot Stocks on TipRanks >>
Read More on MLM:
- If You’re Unsure About Politics, Go with Martin Marietta Materials (NYSE:MLM)
- Martin Marietta Q4 cement shipment estimates ‘look far too high,’ says Barclays
- Martin Marietta just upgraded at JPMorgan, here’s why
- Martin Marietta to sell South Texas cement business to CRH for $2.1B
- Martin Marietta to Divest South Texas Cement and Related Concrete Operations to CRH plc