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Fly News Breaks for March 30, 2017
FRTA, VMC
Mar 30, 2017 | 07:59 EDT
SunTrust analyst Rohit Seth predicts that Vulcan Materials (VMC), Forterra (FRTA), and U.S. Concrete (USCR) will be the "winners" of the $52.4B California transportation bill announced yesterday. The analyst estimates that 80% of new spending could benefit concrete makers, and he identifies Vulcan Materials as the biggest winner. He estimates that the bill could boost the company's revenue by 3.5% and raise its adjusted EBTIDA by 7%. He keeps Buy ratings on all three stocks.
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