Martin Marietta price target raised to $710 from $665 at Truist

Truist analyst Keith Hughes raised the firm’s price target on Martin Marietta (MLM) to $710 from $665 and keeps a Buy rating on the shares. Shares have traded off 8% since the company’s Q4 earnings that was modestly lighter than Street estimates, notes the analyst, who believes “the biggest point of confusion on the results” was comparing the guidance versus the Street with the company’s shifting portfolio due to the pending Quikrete deal. The deal should close in Q1, with new guidance issued to level set Street views, says the analyst, who would “buy the dip” given the view that 2027 infrastructure should still grow, with potential for accelerating federal spending from a new bill.