Vulcan Materials downgraded to Neutral from Overweight at JPMorgan

JPMorgan analyst Adrian Huerta downgraded Vulcan Materials to Neutral from Overweight with a price target of $270, up from $245, as part of a broader research note on U.S. Construction Materials. The rating change is “based solely on valuations” and does not reflect the company’s “very solid fundamentals, the analyst tells investors in a research note. The firm adds that there’s still room for positive surprises for the stock on this year’s results coming from stronger-than-expected pricing and potentially volumes, which also implies “better margins.