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Fly News Breaks for September 18, 2019
VMC
Sep 18, 2019 | 07:01 EDT
RBC Capital analyst Mike Dahl raised his price target on Vulcan Materials to $156 and kept his Outperform rating after the company's backed its $2B long-term EBITDA target but lowered its shipment expectations to 230-240M tons from 255M at its Aggregates Day presentation, implying stronger unit margins. The analyst notes that while the targeted $9/ton in unit profitability is still "several years down the road", he is positive on Vulcan Material's near term setup given the "strong volume and pricing dynamics".
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