Eagle Materials (EXP) PT Raised to $246 at Stifel

Stifel analyst Brian Brophy raised the price target on Eagle Materials (NYSE: EXP) to $246.00 (from $241.00) while maintaining a Hold rating.

The analyst commented: "FY1Q26 (started March) results were above expectations for revenue ($635 million vs. $612 million consensus) despite weather and housing headwinds. Cement pricing was relatively flat y/y while volume increased 2% (infrastructure awards accelerating and likely saw benefit from favorable footprint in housing). Wallboard pricing fell 3% y/y while volume increased 4% (notable strength relative to ~6% industry decline). Adjusted EBITDA was just above expectations ($215M vs. $214M) due to upside in wallboard, partially offset by higher fixed and raw material costs in cement. We continue to like EXP's low-cost producer position and significant raw material reserves. We remain cautious on the near-term housing outlook given the recent decline in industry sentiment amid affordability challenges. We would look to get more positive when there is clearer line of sight to improving housing trends."

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