Jefferies Cuts Numbers On Martin Marietta Materials (MLM), Remains Buy

Jefferies cut estiamtes and its price target on Martin Marietta Materials (NYSE: MLM) but is keeping their Buy rating.

The firm cut its price target from $113 to $108. FY11 EPS goes from $2.85 to $2.44 and FY12 from $4.02 to $3.23.

The firm comments, "We have lowered our volume estimates for this year from +2% to -2%, but increased our price assumptions from +2% to +3% and our cost assumption from no change to +1.5%."

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

Shares of Martin Marietta Materials closed at $69.98 yesterday.

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