Vulcan Materials downgraded to Sector Perform from Outperform at RBC Capital

RBC Capital downgraded Vulcan Materials to Sector Perform from Outperform with a price target of $236, up from $235. The firm still sees potential for upside to estimates but believes Vulcan’s favorable price/cost position and the expected benefits from infrastructure tailwinds are largely understood by the investor community, with ongoing risks around weakening non-residential demand. As such, RBC expects the stock will be range-bound as investors position toward names “with more cyclical torque” in the near-term.