Core & Main price target lowered to $65 from $69 at Barclays

Barclays lowered the firm’s price target on Core & Main to $65 from $69 and keeps an Overweight rating on the shares. The company cut its guidance on much weaker new residential lot development and cost inflation, the analyst tells investors in a research note. However, the firm says Core & Main’s favorable trends in municipal and non-residential are holding in while its margin initiatives are on track.