Fly News Breaks for July 31, 2019
Jul 31, 2019 | 08:52 EDT
Jefferies analyst Philip Ng raised his price target for Martin Marietta Materials to $290 from $265 saying the company is in the "early innings" with volumes and pricing inflecting. Martin's Q2 pricing continued to build on solid Q1 trends while fundamentals in cement straightening, Ng tells investors in a research note. With the funding from infrastructure just starting to inflect and a "robust" pipeline of new energy projects in the Gulf on tap, Martin Marietta is "poised to break out with a multiyear cycle with volumes and pricing accelerating," says Ng. He keeps a Buy rating on the shares.
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