BofA raised the firm’s price target on Ferguson (FERG) to $225 from $198 and keeps a Buy rating on the shares following a beat and raise Q3 report. Ferguson has clearly been gaining share in the quarter, but without diluting its margin this time, which the firm thinks is “very encouraging,” the analyst tells investors. The firm’s valuation method is unchanged and its raised target accounts for the upward revision in earnings estimates and currency effects, the analyst noted.
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Read More on FERG:
- Ferguson PLC Files Form 10-Q, Highlighting Financial Performance
- Ferguson price target raised to $230 from $190 at Wells Fargo
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