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Eagle Materials price target lowered to $245 from $260 at DA Davidson

DA Davidson lowered the firm’s price target on Eagle Materials (EXP) to $245 from $260 and keeps a Neutral rating on the shares. The company’s Q4 results reflected a combination of transitory impacts as well as ongoing softer conditions in select construction verticals, leading to a shortfall, the analyst tells investors in a research note. Eagle Materials is deploying significant capital into its platform in the next few years, and while monetization/reward on these investments will take some time, it should enhance the company’s earnings power with potentially comparatively attractive returns, the firm added.

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