Jefferies Re-Starts Vulcan Materials Company (VMC) at Hold
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Rating Summary:
18 Buy, 10 Hold, 0 Sell
Rating Trend: Down
Today's Overall Ratings:
Up: 0 | Down: 0 | New: 0
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Jefferies re-initiates coverage on Vulcan Materials Company (NYSE: VMC) with a Hold rating and a price target of $69.00.
Analyst Mike Betts comments, "...despite the attractiveness of the US aggregates industry, we are reinitiating coverage of Martin Marietta and Vulcan with Hold ratings. Although our 2015 and 2016 estimates are significantly above consensus and Martin Marietta’s own forecasts, we are cautious on the short-term news flow. Recent data suggests that the housing and non-housing recoveries may be temporarily slowing and the expiry of the Federal highway bill in September may create further uncertainties. We would be looking to upgrade the ratings if the share prices weaken sufficiently."
For an analyst ratings summary and ratings history on Vulcan Materials Company click here. For more ratings news on Vulcan Materials Company click here.
Shares of Vulcan Materials Company closed at $64.07 yesterday.
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