Goldman Sachs raised the firm’s price target on Summit Materials to $49 from $43 and keeps a Neutral rating on the shares. The firm is more positive on the company’s prospects of improving Cementos Argos cement operating performance following an expanded facility by facility deep dive and increased synergy targets following Summit’s analyst day presentation, the analyst tells investors in a research note. The analyst day also reinforced the firm’s positive outlook on widening price/cost amid slowing inflation, Goldman Sachs 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 Unveils 2024 Investor Day Insights
- Summit Materials, Inc. Provides Update on Its Elevate Strategy
- Summit Materials resumed with Overweight from Underweight at JPMorgan
- Summit Materials price target raised to $46 from $43 at Truist
- Summit Materials Inc. Is Worried About This – Should You Be Worried Too?