Truist analyst Keith Hughes raised the firm’s price target on Ferguson (FERG) to $260 from $240 and keeps a Buy rating on the shares. The company’s Q4 results came in well above consensus views with significant growth in non-residential and share gain in most areas, though the firm is still looking for volatility in HVAC that could impact results near-term, the analyst tells investors in a research note. Ferguson share gain will continue and the firm remains Buy-rated given the potential for group-leading organic growth upon a residential and non-residential cycle turn, the firm added.
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