Construction Partners price target lowered to $140 from $145 at Raymond James

Raymond James analyst Patrick Tyler Brown lowered the firm’s price target on Construction Partners (ROAD) to $140 from $145 and keeps a Strong Buy rating on the shares. Despite weaker sentiment driven by higher fuel prices and geopolitical uncertainty, underlying construction materials demand held up well in Q1 for Construction Materials, supported by a mild winter across the U.S. that provided a weather tailwind and helped keep activity broadly solid, the analyst tells investors in a research note.