Martin Marietta price target raised to $600 from $597 at Raymond James

Raymond James analyst Patrick Tyler Brown raised the firm’s price target on Martin Marietta (MLM) to $600 from $597 and keeps an Outperform rating on the shares. A return to outsized precipitation in Q2 likely proved a headwind to the firm’s construction materials coverage, the analyst tells investors in a research note. In the event that Martin Marietta’s volumes fall short of full year guidance and prove more flattish, the firm believes the company’s unit gross profit guidance can still be achieved.