Core & Main Sees Price Target Bumps From RBC Capital, Credit Suisse After Q2 Performance

  • RBC Capital analyst Mike Dahl raised Core & Main Inc CNM price target to $30 (implying an upside of 8.8%) from $28 and maintained a Sector Perform rating on the shares. 
  • Dahl states company's near-term earnings momentum likely remains favorable given continued demand strength and pricing support amid accelerating supply shortages.
  • Dahl adds that he prefers to wait for a better entry point, with the stock's expected near-term strength likely reflected in the 17-times expected FY22 adjusted EBITDA multiple.
  • Also, Credit Suisse analyst Jamie Cook raised the price target from $31 to $33 (implying an upside of 19.7%) and maintained an Outperform ratings for the shares.
  • Yesterday, the company reported its Q2 results, with 36% sales growth and margin expansions.
  • Price Action: CNM shares are trading higher by 1.92% at $27.55 on the last check Wednesday.
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