Vulcan Materials price target raised to $310 from $300 at Stephens

Stephens analyst Trey Grooms raised the firm’s price target on Vulcan Materials to $310 from $300 and keeps an Overweight rating on the shares. Vulcan reported “a strong start to the year,” despite volume declines, with sales as expected and an adjusted EBITDA beat, the analyst tells investors. Midyear pricing increases seem increasingly likely to provide modest upside to this year and lay the groundwork for higher pricing in 2025, says the analyst, who calls Vulcan “a story of strong pricing and compounding profitability improvement.”