UBS upgraded Martin Marietta (MLM) to Buy from Neutral with a price target of $634, up from $548. The upgrade reflects continued above-market growth from both price and volume in what could be an extended period of industrial softness, the analyst tells investors in a research note. The firm also cites more confidence in margins due to price-cost dynamics and execution for the upgrade. UBS expects the durable building materials business model to support positive price vs. cost and company margins.
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