Goldman Sachs raised the firm’s price target on Eagle Materials (EXP) to $317 from $277 and keeps a Buy rating on the shares after its Q3 results. The firm is citing the company’s Wallboard segment’s volumes and resilient pricing, noting that Wallboard pricing was up 1% from last year compared to its estimate of 2% yoy, though Wallboard volumes were up 3% vs. expected decline of 4%, the analyst tells investors in a research note. Goldman’s higher price target reflects sustained wallboard industry pricing discipline through the current residential construction soft spot, the firm added.
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Read More on EXP:
- Eagle Materials reports Q2 adjusted EPS $4.31, consensus $4.65
- Is EXP a Buy, Before Earnings?
- Eagle Materials price target raised to $330 from $309 at Jefferies
- Eagle Materials price target raised to $290 from $270 at JPMorgan
- Eagle Materials price target raised to $315 from $290 at Loop Capital
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