Loop Capital analyst Garik Shmois raised the firm’s price target on Summit Materials to $44 from $38 and keeps a Buy rating on the shares after its Q2 earnings beat. The company’s results are starting to reap the benefits of its Elevate program in that margin progress is finally being recognized in results after a period of severe inflation related headwinds, the analyst tells investors in a research note.
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Read More on SUM:
- Summit Materials price target raised to $48 from $36 at Stephens
- Summit Materials raises FY23 adjusted EBITDA view to $550M-$570M
- Summit Materials reports Q2 adjusted EPS 71c, consensus 58c
- Summit Materials, Inc. Reports Second Quarter 2023 Results
- Is SUM a Buy, Before Earnings?
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