Eagle Materials price target raised to $226 from $220 at Jefferies

Jefferies analyst Philip Ng raised the firm’s price target on Eagle Materials (EXP) to $226 from $220 and keeps a Hold rating on the shares. The company’s shipments in cement have firmed up, and it has announced an $8/ton cement increase in most of its markets for January, with cement pricing showing good resiliency in its inland markets, the analyst tells investors in a research note. The firm added that, with Eagle’s wallboard shipments outpacing the market this past year, the company could see some reversal in the next few quarters, but pricing is holding up well.