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Fly News Breaks for August 7, 2018
USCR
Aug 7, 2018 | 07:22 EDT
SunTrust analyst Rohit Seth lowered his price target on U.S. Concrete to $70 ahead of its earnings, saying the price/cost challenges expected by the market in Q2 are likely to lead to a reset of expectations for the rest of the year. While he keeps his Buy rating with risk-return profile of U.S. Concrete skewed to the upside, Seth points to the company's likely exposure in higher "truck driver labor costs/tightness, input materials, and diesel". Aside from the cost headwinds, the analyst adds that he will look for signs of higher pricing to generate more stable margins.
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