JPMorgan upgraded Vulcan Materials (VMC) to Overweight from Neutral with a price target of $285, down from $290. The firm increased its fiscal 2025 EBITDA estimate by 8% to $2.48B for Vulcan, which is in line with the company’s mid-point of guidance. Although operational visibility for the year remains low, particularly regarding volumes, JPMorgan does not foresee significant downside risks to earnings. As such, it sees Vulcan’s current valuation as attractive, with limited downside risks.
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Read More on VMC:
- Martin Marietta downgraded to Neutral from Overweight at JPMorgan
- Vulcan Materials resumed with a Buy at Stifel
- Vulcan Materials price target lowered to $288 from $311 at BofA
- Vulcan Materials: Strong Financial Performance and Strategic Outlook Justify Buy Rating
- Vulcan Materials price target raised to $286 from $269 at RBC Capital
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