Jefferies Cuts Numbers On Martin Marietta Materials (MLM), Remains Buy
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Price: $525.27 --0%
Rating Summary:
19 Buy, 12 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 7 | Down: 5 | New: 25
Rating Summary:
19 Buy, 12 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 7 | Down: 5 | New: 25
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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.
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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