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DA Davidson Upgrades Martin Marietta Materials (MLM) to Neutral, Slashes FY11, FY12 Estimates

August 3, 2011 10:35 AM EDT
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Price: $596.76 +0.08%

Rating Summary:
    19 Buy, 9 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 8 | Down: 4 | New: 35
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An analyst at DA Davidson upgraded shares of Martin Marietta Materials (NYSE: MLM) from Underperform to Neutral Wednesday morning. The analyst maintains a $70 price target.

The raised investment rating follows Q2 results Tuesday morning and the resulting 6 percent decline in the stock.

DA Davidson sees "more limited downside risk to the shares following recent pressure."

The analyst slashed his FY11 EPS estimate from $2.62 to $1.66 and his FY12 estimate from $3.35 to $2.40. The revisions "reflect the general pace of recovery in construction activity, which has been sluggish."

For more ratings news on Martin Marietta Materials click here and for the rating history of Martin Marietta Materials click here.


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