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.
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