Wells Fargo lowered the firm’s price target on Martin Marietta (MLM) to $608 from $612 and keeps an Equal Weight rating on the shares. The firm adjusted targets in the building materials group as part of a Q1 preview. The “seasonally weaker” quarter tracked to expectations, but Q2 estimates face risk from surging diesel costs, the analyst tells investors in a research note. Wells expects the costs to be passed through on a 1-2 quarter lag.
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