Barclays lowered the firm’s price target on Ferguson (FERG) to $234 from $245 and keeps an Overweight rating on the shares. The company’s Q1 margin shortfall is tied to higher spending, with slight end market growth and continued modest deflation. Ferguson is rightly investing for the future, but its near-term margins may now drift to the low end of guidance, the analyst tells investors in a research note.
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Read More on FERG:
- Ferguson price target lowered to $225 from $230 at Baird
- Ferguson PLC Files Form 10-Q, Highlighting Key Financial Insights
- Ferguson price target lowered to $220 from $232 at Wells Fargo
- Ferguson price target raised to $240 from $224 at Berenberg
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