Ferguson price target raised to $243 from $231 at RBC Capital

RBC Capital analyst Mike Dahl raised the firm’s price target on Ferguson (FERG) to $243 from $231 and keeps an Outperform rating on the shares after its Q4 earnings beat and guidance raise. Weaker new residential, RMI, or repair, maintenance and improvement, and HVAC headwinds are likely to remain a near-term headwind, but Ferguson’s balanced end market mix and share gain continues to provide resilience along with a solid positive inflection in pricing, the analyst tells investors in a research note.