Truist raised the firm’s price target on Summit Materials to $46 from $43 and keeps a Buy rating on the shares. The company’s Q4 earnings beat was notably above Street views and its guidance range was “about as expected”, the analyst tells investors in a research note. Summit Materials underperformed peers since the shareholder vote earlier this year, and this move is “somewhat of a catch up with numbers”, the firm added.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See today’s best-performing stocks on TipRanks >>
Read More on SUM:
- Summit Materials Inc. Is Worried About This – Should You Be Worried Too?
- Summit Materials Finalizes Acquisition of Argos USA
- Summit Materials sees FY24 adjusted EBITDA ~$950M-$1.01B
- Summit Materials reports Q4 adjusted EPS 31c, consensus 26c
- SUM Earnings Report this Week: Is It a Buy, Ahead of Earnings?