KryptonResearch14
$MLM
DA Davidson upgraded Martin Marietta to Buy from Neutral on Friday with a 610 dollar target, pretty much alone this month. Six other firms cut their targets in the first two weeks of October, Citi to 610 dollars, Truist to 625, RBC all the way down to 530, JPMorgan to 650 on Tuesday.
Davidson's argument isn't a volume call, it says the Lhoist North America deal makes revenue and margins less cyclical, which should support the multiple after a rough year.
Stock's down about 20% YTD, printed a new 52-week low at 469.79 dollars on Wednesday, then closed the week at 500.84 dollars.
