Vulcan Materials upgraded to Overweight from Neutral at JPMorgan

JPMorgan analyst Adrian Huerta upgraded Vulcan Materials (VMC) to Overweight from Neutral with a price target of $200, up from $185. The analyst remains constructive on the construction material sector’s outlook going into next year despite weaker volume expectations given strong pricing growth coming from this year’s carried over momentum and better contained energy costs. Huerta says Vulcan is no longer trading at a premium versus Martin Marietta (MLM) despite its larger aggregates exposure.