Summit Materials price target raised to $60 from $47 at Truist

Truist analyst Keith Hughes raised the firm’s price target on Summit Materials (SUM) to $60 from $47 and keeps a Buy rating on the shares. The company’s Q3 results came in better than the lowered Street numbers, as Summit Materials navigated through weather and mostly maintained its guide for the year, the analyst tells investors in a research note. Truist adds however that the near-term on the stock is all about a potential Quikrete takeout offer for the company.