UPDATE: Sterne Agee Upgrades Eagle Materials to Buy on Overdone Pullback

Sterne Agee upgraded Eagle Materials

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.