Core & Main price target raised to $65 from $57 at Barclays

Barclays analyst Matthew Bouley raised the firm’s price target on Core & Main to $65 from $57 and keeps an Overweight rating on the shares following the earnings report. The firm says Core & Main exited the “penalty box” in displaying the new norm of gross margins and consistent capital deployment execution, while quelling concerns around share or outgrowth. The share are “back to the compounder thesis and valuation,” the analyst tells investors in a research note.