JPMorgan raised the firm’s price target on Vulcan Materials to $240 from $230 and keeps a Neutral rating on the shares. The analyst expects the U.S. construction material sector to trade “sideways” at least until the end of 2023 since the stocks are trading at “fair multiples” and positive results and upward guidance revisions were already incorporated into outlooks for the sector prior to the Q2 earnings reports.
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Read More on VMC:
- Vulcan Materials price target raised to $260 from $225 at DA Davidson
- Vulcan Materials raises FY23 adjusted EBITDA to $1.9B-$2.0B from $1.85B-$1.95B
- Vulcan Materials price target raised to $260 from $225 at Truist
- Vulcan Materials price target raised to $236 from $212 at RBC Capital
- Vulcan Materials price target raised to $260 from $235 at Loop Capital