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Stock impact report

Citi Raises PT on Martin Marietta Materials (MLM), Keeps a Buy Rating [Yahoo! Finance]

Martin Marietta Materials, Inc. (MLM) 
Last martin marietta materials, inc. earnings: 2/11 06:57 am Check Earnings Report
US:NYSE Investor Relations: ir.martinmarietta.com
Company Research Source: Yahoo! Finance
Buy For the Long Term . On March 2, Citi analyst Anthony Pettinari raised the firm's price target on Martin Marietta Materials, Inc. (NYSE:MLM) from $780 to $804, while maintaining a Buy rating. Earlier, on February 26, Jefferies also raised the price target from $761 to $785 and maintained a Buy rating on the stock. ?The bullish sentiment follows the company's asset exchange with Quikrete Holdings, Inc. on February 23. As a result of this deal, the company acquired aggregates operations producing roughly 20 million tons per year in Virginia, Missouri, Kansas, and Vancouver, BC (Canada). The deal also includes $450 million in cash. In return, Martin Marietta sold its Midlothian cement plant, related cement terminals, Texas ready-mixed concrete plants, and some non-core land. ?Analysts at Jefferies expect the company to pursue mergers and acquisitions to fill the gap created by the exchange. The firm also noted that the deal dragged the company's “price-to-mix” by 250 basis points Show less Read more
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