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UPDATE: Goldman Sachs Initiates Vulcan Materials Company at Neutral on Limited Upside

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Goldman Sachs initiated Vulcan Materials Company (NYSE: VMC) with a Neutral rating and a $55.00 price target.

Goldman Sachs commented, "We now have a Neutral rating on VMC with a $55 12-month price target. We are constructive on VMC's cost reduction initiatives and see modest upside to consensus estimates (+3%) driven by strong private construction growth. However, we see an extended path to mid-cycle earnings power for VMC's downstream product lines and key regions and not enough upside to our undiscounted mid-cycle value of $61 in 2016-17E."

Vulcan Materials Company closed at $50.58 on Wednesday.

Latest Ratings for VMC

DateFirmActionFromTo
Dec 2017BarclaysInitiates Coverage OnOverweight
Nov 2017JefferiesMaintainsHold
Oct 2017Bank of AmericaMaintainsNeutral

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Posted-In: Goldman SachsAnalyst Color Initiation Analyst Ratings

 

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