Martin Marietta initiated with a Neutral at B. Riley

B. Riley initiated coverage of Martin Marietta (MLM) with a Neutral rating and $700 price target Martin is the number two U.S. producer of construction aggregates, the analyst tells investors in a research note. Riley views the company as a “core compounder,” but says Martin’s transformation and re-rating story “is done.” Future upside must come from earnings beats, not multiple expansion, the analyst tells investors in a research note.