Morgan Stanley analyst Angel Castillo has maintained their bullish stance on MLM stock, giving a Buy rating today.
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Angel Castillo has given his Buy rating due to a combination of factors that highlight Martin Marietta Materials’ strong financial performance and positive future outlook. The company reported a second-quarter adjusted EBITDA of $630 million, which not only met pre-announcement expectations but also exceeded both Morgan Stanley’s estimate of $606 million and the consensus of $622 million. This performance was driven by better-than-expected aggregates shipments and strong average selling price growth, despite industry concerns about weather-related challenges.
Furthermore, Martin Marietta Materials raised its full-year 2025 adjusted EBITDA outlook to a range of $2,250 million to $2,350 million, surpassing both Morgan Stanley’s and the consensus estimates. The company also increased its guidance for aggregates average selling price growth and gross profit per ton, suggesting a more favorable trend than previously anticipated. These positive developments are expected to lead to a favorable stock reaction, reinforcing the Buy rating.
In another report released today, Barclays also maintained a Buy rating on the stock with a $600.00 price target.