Summit Materials price target lowered to $47 from $55 at Stifel

Stifel lowered the firm’s price target on Summit Materials to $47 from $55 and keeps a Buy rating on the shares. The firm’s Q2 construction materials survey points to a mixed quarter with many pockets of the country, such as Texas, facing abnormally unfavorable weather, leading it to reduce Q2 estimates for the group, the analyst tells investors.