Goldman Resumes Vulcan Materials (VMC) at Neutral; Rates MLM (MLM) Buy

February 28, 2013 11:10 AM EST
Get Alerts VMC Hot Sheet
Price: $129.87 +2.83%

Rating Summary:
    9 Buy, 7 Hold, 1 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 30 | Down: 30 | New: 23
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Goldman Sachs resumed coverage on Vulcan Materials Company (NYSE: VMC) with a Neutral rating and a price target of $55.00. The bank also resumed coverage on Martin Marietta Materials Inc. (NYSE: MLM) with a Buy rating and a price target of $111.

The call is based on the premise that the U.S. construction recovery is accelerating.

"We forecast US construction spending growth of 8%/4%/4% in 2013-15 driven by (1) accelerating private non-residential construction, as leading indicators across critical verticals have turned (Office, Commercial, Lodging, Manufacturing), (2) continued residential recovery as inventories are low and pricing momentum is emerging, more than offsetting (3) weak public construction spending, which should lag the recovery," wrote analyst Jerry Revich

For an analyst ratings summary and ratings history on Vulcan Materials Company (NYSE: VMC) click here. For more ratings news on Vulcan Materials Company click here.

Shares of Vulcan Materials Company closed at $51.10 yesterday.

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