Brokerage upgrades Martin Marietta Materials rating to "overweight"

Martin Marietta Materials

27/11/2024 11:21

** J.P.Morgan raises stock rating on building material
supplier Martin Marietta Materials  MLM.N  to "overweight" from
"neutral"
    ** "We believe MLM has attractive geographic exposure, with
operations in states that could continue to outperform the
country's national average and that have attractive midterm
growth potential" - brokerage
    ** Also raises target price to $640 from $515, representing
a 7.2% upside to stock's last close
    ** Says MLM has solid exposure to the cement industry in
Texas, which is a high-growth market but also very competitive
    ** Up to last close, stock was up 19.65% YTD

 (Reporting by Anshuman Tripathy)
 ((Anshuman.Tripathy@thomsonreuters.com))