Core & Main price target raised to $62 from $52 at Wells Fargo

Wells Fargo raised the firm’s price target on Core & Main to $62 from $52 and keeps an Overweight rating on the shares after its Q3 earnings beat and guidance raise. Core & Main did what it needed for shares to rally, posting a surprise volume inflection and gross margin expansion while also issuing a “constructive” early FY25 outlook, the analyst tells investors in a research note.