BofA raised the firm’s price target on Martin Marietta (MLM) to $643 from $577 and keeps a Neutral rating on the shares after the company announced plans to exchange cement and RM assets for aggregates with Quikrete while also announcing preliminary Q2 results that came in ahead of expectations. The firm rolls forward its valuation and applies a slightly lower multiple given mixed construction trends, the analyst noted.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on MLM:
- Martin Marietta Materials: Strong Buy Rating Amid Strategic Growth and Robust Financial Performance
- Martin Marietta Materials: Strategic Asset Exchange and Strong Financial Performance Drive Buy Rating
- Martin Marietta price target raised to $700 from $645 at Stephens
- Early notable gainers among liquid option names on August 4th
- Martin Marietta Announces Asset Exchange with Quikrete