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Fly News Breaks for May 15, 2019
USCR
May 15, 2019 | 08:01 EDT
SunTrust analyst Rohit Seth raised his price target on U.S. Concrete to $43 and kept his Hold rating on the stock. The analyst says that while the company's concrete margins contracted for the 7th straight quarter in Q1 - in line with his forecast when he downgraded the stock in January - the quarter also drew strong contribution from its Polaris acquisition. Seth adds that the update on U.S. Concrete's process improvement initiatives was positive, but he continues to question whether its consolidated and scaled market footprint business model will "hold up" in a more challenging environment.
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