Vulcan Materials price target lowered to $288 from $311 at BofA

BofA lowered the firm’s price target on Vulcan Materials (VMC) to $288 from $311 and keeps a Buy rating on the shares. The firm updated estimates after Vulcan posted a “solid” Q4, but lowered its target as it believes a lower multiple is warranted given the “higher for longer” rate environment. The firm reiterates its Buy rating, citing Vulcan’s pricing power and “quality attributes,” the analyst noted.