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Fly News Breaks for February 24, 2020
VMC
Feb 24, 2020 | 06:57 EDT
As previously reported, Stephens analyst Trey Grooms downgraded Vulcan Materials to Equal Weight from Overweight with a price target of $150, down from $177. After the company's Q4 results "missed across the board," Grooms said higher costs were expected, but not of this magnitude. Additionally, he sees higher demand uncertainty given the recent slowing of highway contract awards, difficult comps, uncertainty around how state DOTs will handle lettings in 2020 and "choppy leading indicators" for non-residential housing, Grooms added.
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