Martin Marietta price target lowered to $600 from $630 at Raymond James

Raymond James lowered the firm’s price target on Martin Marietta (MLM) to $600 from $630 and keeps an Outperform rating on the shares. Martin Marietta’s volume trajectory faces uncertainty from hazy residential and light non-residential markets, but Raymond James likes the momentum in heavy non-residential and public spending driven by the Infrastructure Investment and Jobs Act and healthy state DoT budgets, the analyst tells investors in a research note. The firm sees avenues of upside, including capital deployment, expanding unit margins, and an eventual recovery in volumes.