Martin Marietta price target lowered to $610 from $650 at Stephens

Stephens lowered the firm’s price target on Martin Marietta to $610 from $650 and keeps an Overweight rating on the shares. Significant weather disruptions in Q2 drove sales and EBITDA lower than estimates along with a lowered full year guide, but while there’s some weakening in private demand, the firm would expect volumes to catch up at some point in 2025. Infrastructure demand remains “healthy” and further pricing growth should drive margin expansion next year, the analyst tells investors in a post-earnings note.