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.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on FERG:
- Ferguson PLC Files Form 10-Q, Highlighting Financial Performance
- Ferguson price target raised to $230 from $190 at Wells Fargo
- Ferguson price target raised to $247 from $190 at Barclays
- Ferguson PLC’s Strong Q3 Performance and Optimistic Outlook Justify Buy Rating
- Ferguson PLC: Strong Q3 Performance and Market Position Justify Buy Rating