UPDATE: Jefferies Reiterates Buy Rating, Raises PT on Martin Marietta Materials on Stronger Demand

In a report published Friday, Jefferies reiterated its Buy rating on Martin Marietta Materials

, and raised its price target from $108.00 to $114.00. Jefferies noted, “We are increasing our Q4 and full-year EPS estimates for MLM by $0.11 and for VMC by $0.03 due to our expectation of stronger than expected Q4 shipments. We now expect them to report Q4 results next week ahead of consensus by $0.06 for MLM and by $0.10 for VMC as they benefit from stronger demand in the Southern US. Conversely, CRH's aggregates business was probably like Heidelberg's hit by weaker demand in the North East.” Martin Marietta Materials closed on Thursday at $97.37.