UPDATE: Sterne Agee Upgrades Eagle Materials to Buy on Overdone Pullback
Sterne Agee upgraded Eagle Materials (NYSE: EXP) from Neutral to Buy and announced a $70.00 price target.
Sterne Agee commented, "We are upgrading EXP to Buy from Neutral and setting a 12-month target of $70 (though we believe the stock could reach the $80s in the next 2-3 years). Following a significant pullback in the past few days, we find the shares of one of the highest-quality names in the U.S. construction materials space to be attractively valued, and are responding accordingly."
Eagle Materials closed at $61.05 on Thursday.
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