JPMorgan downgraded Eagle Materials (EXP) to Underweight from Neutral with a price target of $215, down from $230, post the Q4 report. The firm believes ongoing weakness in wallboard demand will be a headwind for Eagle that is likely to persist until residential demand improves. JPMorgan targets the second half of 2026 as the earliest for a residential recovery, but does not see it improving significantly until 2027. It needs to see an inflection in residential demand and a meaningful improvement in new housing starts before getting constructive on Eagle shares.
Claim 55% Off TipRanks
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Discover top-performing stock ideas and upgrade to a portfolio of market leaders with Smart Investor Picks
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on EXP:
- Eagle Materials price target lowered to $224 from $232 at Citi
- Eagle Materials price target lowered to $210 from $225 at DA Davidson
- Eagle Materials Earnings Call: Heavy Strength, Light Strain
- Eagle Materials reports Q3 EPS $3.22, consensus $3.38
- Eagle Materials price target lowered to $241 from $251 at Wells Fargo