Loop Capital raised the firm’s price target on Core & Main to $68 from $63 and keeps a Buy rating on the shares. The company reported an in-line quarter with healthy end market demand fundamentals and potential upside to its stable overall pricing guidance, the analyst tells investors in a research note. Core & Main’s strong Q1 results were driven by mid-single-digit organic sales growth and modest sequential gross margin expansion, the firm added.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
- Make smarter investment decisions with TipRanks' Smart Investor Picks, delivered to your inbox every week.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on CNM:
- Core & Main price target raised to $65 from $60 at Wells Fargo
- Core & Main price target raised to $69 from $65 at Barclays
- Positive Outlook for Core & Main: Solid Sales Growth and Margin Improvements Justify Buy Rating
- U.S.-China talks continue, IBM making large-scale quantum computer: Morning Buzz
- Morning Movers: Insmed jumps, United Therapeutics falls after TPIP study results