Martin Marietta price target raised to $605 from $575 at Stephens

Stephens raised the firm’s price target on Martin Marietta to $605 from $575 and keeps an Overweight rating on the shares. The company reported a “solid” finish to the year, with a slight revenue miss, but an adjusted EBITDA that beat expectations, the analyst tells investors. Pricing for aggregates continues to be a margin driver, which the firm expects will remain the case for 2024. Infrastructure and non-residential categories are expected to grow, which will be offset by weakness in light commercial and residential, but even residential could turn to growth if rates fall, the firm adds.