Bank of America has adjusted its price target for Martin Marietta (MLM, Financial), reducing it from $575 to $545 while maintaining a Neutral rating on the stock. The revision reflects a challenging outlook for the Machinery, Engineering & Construction (E&C), and Waste sectors as companies face potential difficulties heading into earnings season.
The bank anticipates a precarious environment where firms might need to lower their guidance due to prevailing uncertainties, or they could risk being seen as disconnected from market realities. This has prompted a strategic shift in focus towards the services sector, such as aggregates, rentals, and waste management, rather than original equipment manufacturers.
BofA's adjusted outlook suggests an increased caution moving forward, highlighting the importance of adapting to the evolving economic landscape in these industries.
Wall Street Analysts Forecast
Based on the one-year price targets offered by 23 analysts, the average target price for Martin Marietta Materials Inc (MLM, Financial) is $592.19 with a high estimate of $660.00 and a low estimate of $381.98. The average target implies an upside of 21.72% from the current price of $486.51. More detailed estimate data can be found on the Martin Marietta Materials Inc (MLM) Forecast page.
Based on the consensus recommendation from 24 brokerage firms, Martin Marietta Materials Inc's (MLM, Financial) average brokerage recommendation is currently 2.1, indicating "Outperform" status. The rating scale ranges from 1 to 5, where 1 signifies Strong Buy, and 5 denotes Sell.
Based on GuruFocus estimates, the estimated GF Value for Martin Marietta Materials Inc (MLM, Financial) in one year is $512.94, suggesting a upside of 5.43% from the current price of $486.5075. GF Value is GuruFocus' estimate of the fair value that the stock should be traded at. It is calculated based on the historical multiples the stock has traded at previously, as well as past business growth and the future estimates of the business' performance. More detailed data can be found on the Martin Marietta Materials Inc (MLM) Summary page.
