UPDATE: KeyBanc Capital Markets Downgrades Vulcan Materials to Hold on Full Valuation
KeyBanc Capital Markets reduced its rating on Vulcan Materials (NYSE: WMC) from Buy to Hold and removed its previous price target of $45 a share.
KeyBanc Capital Markets commented, "VMC continues to execute on improving its profitability and refocusing its business around its core aggregates operations, but for now we think valuation fairly reflects its 1) nascent recovery in cyclically depressed businesses, 2) resilient aggregates price power; 3) tight cost focus, and 4) improving balance sheet."
Vulcan Materials closed at $48.27 on Monday.
Latest Ratings for wmc
|Feb 2015||JP Morgan||Maintains||Neutral|
|Oct 2014||Wells Fargo||Initiates Coverage on||Market Perform|
© 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.