Martin Marietta price target lowered to $645 from $680 at Loop Capital

Loop Capital analyst Garik Shmois lowered the firm’s price target on Martin Marietta (MLM) to $645 from $680 but keeps a Buy rating on the shares. The company’s Q4 results topped estimates but its guidance was light, but while shares pulled back at first, positioning was crowded going in to the print, the analyst tells investors in a research note. Loop adds that it agrees with the management that the guide is potentially conservative, and the firm also likes that pricing growth is expected to accelerate to high single digits beginning in Q2.