Ferguson price target raised to $225 from $220 at JPMorgan

JPMorgan analyst Patrick Baumann raised the firm’s price target on Ferguson (FERG) to $225 from $220 and keeps an Overweight rating on the shares. The firm updated estimates for the U.S. distributors to reflect the recent earnings results. Market volumes remained challenged despite strength in some verticals, but no worse than expected outside of residential heating, ventilation, and air conditioning, the analyst tells investors in a research note. JPMorgan says volume expectations remain muted in the back half of 2025.