Core & Main price target raised to $62 from $53 at RBC Capital

RBC Capital analyst Mike Dahl raised the firm’s price target on Core & Main to $62 from $53 and keeps an Outperform rating on the shares. The firm cites the company’s Q3 earnings beat and a “solid” initial FY25 guide, with near-term results demonstrating price resilience and a gross margin inflection, the analyst tells investors in a research note. The bear narrative clearly suffered a loss, and if Core & Main continues to “climb the wall of worries” on price/margin, there could be further EBITDA upside potential and multiple expansion, RBC added.