UPDATE: Stifel Reiterates Buy Rating, Raises PT on Martin Marietta Materials Following Analyst Day

In a report published Friday, Stifel analyst Stanley Elliott reiterated a Buy rating on

, and raised the price target from $146.00 to $167.00. In the report, Stifel noted, "We had the pleasure of attending Martin Marietta's analyst event in NYC yesterday. The event was well attended, which is not surprising given solid earnings report from earlier this week. While the company refrained from providing any specific metrics around targeted mid-cycle aggregate tonnage or EBITDA, the company did put in context the transformation the enterprise has undergone over the past several years. With that as the backdrop we would expect significant EBITDA and cash flow growth as the recovery takes hold. We are increasing our target price to $167." Martin Marietta Materials closed on Thursday at $142.08.