UPDATE: Sterne Agee Upgrades Vulcan Materials Company to Buy, Names $55 PT on Attractive Growth Outlook, Valuation

In a report published Tuesday, Sterne Agee analyst Todd Vencil upgraded the rating on Vulcan Materials Company

from Neutral to Buy, and named a $55.00 price target. In the report, Vencil noted, “We are upgrading VMC from Neutral to Buy and setting a $55 target, implying ~20% upside, as we believe the company's end-market growth outlook and valuation are attractive, and we think the likelihood of several years of growth in U.S. construction trumps near-term macroeconomic concerns.” Vulcan Materials Company closed on Monday at $45.59.