Suncrete Inc Class A (RMIX) has received a new Buy rating, initiated by William Blair analyst, Ryan Merkel.
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Ryan Merkel has given his Buy rating due to a combination of factors that support a compelling growth narrative for Suncrete Inc. Suncrete is building a rollup platform in ready-mix concrete focused on fast-growing Sunbelt metros, and management plans to accelerate expansion through a steady pipeline of acquisitions, with several deals already under letters of intent.
Merkel also sees a favorable demand backdrop, as Suncrete is leveraged to infrastructure, commercial, and residential construction, all benefiting from sustained federal infrastructure funding and the rise of data center and megaproject activity. In addition, Sunbelt states are experiencing structurally faster population growth than the broader U.S., which should support construction volumes and, combined with the proven rollup playbook pioneered by SunTx’s success with ROAD, underpins his positive view on the stock.
In another report released on May 1, Jefferies also initiated coverage with a Buy rating on the stock with a $19.00 price target.