Vulcan Materials initiated with a Buy at B. Riley

B. Riley analyst Rohit Seth last night initiated coverage of Vulcan Materials (VMC) with a Buy rating and $345 price target As the largest U.S. producer of construction aggregates, Vulcan supplies essential inputs for highways, buildings, and data centers, the analyst tells investors in a research note. The firm says Vulcan operates like a toll road on U.S. construction. Every data center, road, and power plant needs materials, and these projects are less sensitive to pricing, contends Riley. It sees the company as “uniquely positioned” to benefit from accelerating high-intensity data center projects.