Vulcan Materials cut to Neutral at DA Davidson after recent gains

As previously reported, DA Davidson analyst Brent Thielman downgraded Vulcan Materials (VMC) to Neutral from Buy with an unchanged $330 price target Following recent years’ gains, the firm points to certain factors which could weigh against further material equity price appreciation for now, which include narrowing agg price realization potential relative to recent years, moderation in rate of change in infrastructure end market bid activity, transition from current surface transportation authorization, and/or private market weakness, the analyst tells investors in a research note.