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Fly News Breaks for January 13, 2020
MLM, VMC, SUM
Jan 13, 2020 | 04:57 EDT
Goldman Sachs analyst Jerry Revich downgraded Summit Materials to Sell from Neutral with an unchanged price target of $22. The pace of the construction materials recovery is slowing, in contrast to bottoming machinery markets, which limits the prospects of multiple expansion for the stock, Revich tells investors in a research note. The analyst prefers Vulcan Materials (VMC) and Martin Marietta (MLM) over Summit Materials at this point in the cycle.
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