Ferguson price target lowered to $189 from $234 at Oppenheimer

Oppenheimer lowered the firm’s price target on Ferguson (FERG) to $189 from $234 on low visibility near term, while keeping an Outperform rating on the shares following quarterly results. Sustaining strategic growth initiatives, such as HVAC counter expansion, Ferguson maintained its FY25 revenue guidance despite subdued markets and persistent commodity price deflation, Oppenheimer adds. FY25 adjusted operating margin guidance was reduced, which appears primarily due to persistent price deflation.