Ferguson Plc. (FERG) PT Raised to $271 at RBC Capital

RBC Capital analyst Mike Dahl raised the price target on Ferguson Plc. (NYSE: FERG) to $271.00 (from $247.00) while maintaining a Outperform rating.

The analyst comments "Our CY’26/'27E Adj. EBITDA move -1%/-1% as mgmt.'s CY'26 guide came largely in-line and likely embeds some conservatism ('26/'27E -1%/-1% vs. prior Street). Mgmt. provided updated medium-term growth and margin targets that are largely unch. vs. prior, calling for an annual growth of +6-11% and OM% +10-30 bps y/y. These are not NT objectives given the ’26 guide and soft macro, but over time we do see the path to stronger growth/margins given FERG’s strong positioning in attractive verticals and accretive capital deployment. Mgmt. also upsized its large capital project TAM to ~$90 BN from $50 BN. We continue to like FERG given its balanced end market mix, share gains, and FCF. Maintain OP, PT to $271."

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