Martin Marietta upgraded to Outperform at Wolfe Research following 16% pullback

Wolfe Research analyst Timna Tanners upgraded Martin Marietta (MLM) to Outperform from Peer Perform with a $563 price target While the firm remains wary of elevated interest rates hurting construction demand on a lag and inflation continuing to eat into spending, it identifies Martin Marietta as its favored name in its building materials coverage after shares fell about 16% since the firm’s prior downgrade in March. The firm’s 2025 EBITDA estimate of $2.40B is modestly above consensus of $2.35B, the analyst noted.