RBC Capital raised the firm’s price target on Ferguson (FERG) to $281 from $271 and keeps an Outperform rating on the shares. The firm is citing the company’s Q1 earnings beat and notes that it remains positive on the stock as a long-term compounder, given its balanced and market-mixed share gains and free cash flow, the analyst tells investors in a research note.
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Read More on FERG:
- Ferguson Directors and Executive Add Shares via Dividend Reinvestment
- Ferguson Files Latest Quarterly Form 10-Q With SEC
- Ferguson Maintained at Overweight/Buy as Analyst Lifts Price Target to $280 on Margin Durability and Waterworks Growth
- Ferguson, Contractor Commerce partner to modernize contractor buying
- Ferguson reports Q1 adjusted EPS $2.28, consensus $2.20