Eagle Materials price target raised to $317 from $277 at Goldman Sachs

Goldman Sachs raised the firm’s price target on Eagle Materials (EXP) to $317 from $277 and keeps a Buy rating on the shares after its Q3 results. The firm is citing the company’s Wallboard segment’s volumes and resilient pricing, noting that Wallboard pricing was up 1% from last year compared to its estimate of 2% yoy, though Wallboard volumes were up 3% vs. expected decline of 4%, the analyst tells investors in a research note. Goldman’s higher price target reflects sustained wallboard industry pricing discipline through the current residential construction soft spot, the firm added.