Vulcan Materials price target raised to $260 from $230 at Stephens

Stephens analyst Trey Grooms raised the firm’s price target on Vulcan Materials to $260 from $230 and keeps an Overweight rating on the shares. The company’s Q2 included: sales that were slightly better than expected; greater outperformance on profitability; better-than-expected volume in aggs and asphalt; and much improved gross margins, the analyst tells investors. Midyear price actions create added momentum into 2024, where the firm believes pricing and profitability will move higher.