Core & Main price target lowered to $50 from $56 at Truist

Truist lowered the firm’s price target on Core & Main to $50 from $56 and keeps a Hold rating on the shares. The stock traded sharply lower after Q2 results came in below Street expectations and a modest FY25 cut as slower residential business and notable higher SG&A drove the miss, the analyst tells investors in a research note. Investors should note that the management’s lower residential products outlook is in line with where the market is and does not constitute some information of a new leg down, the firm added.