Construction Materials Take a Hit from Analysts

Analysts trimmed targets across the construction materials sector Wednesday. Three major names — MLM, VMC, and CRH — all saw target price cuts on the same day, signalling a broad re-rating of the group.

Martin Marietta Materials had its average target slipped to $652.71 from $657.38. Vulcan Materials saw its consensus target dip to $321.78 from $324.83. CRH plc, the Irish-listed building materials giant, fell to $133.18 from $134.35. None of the three carries significant short interest, suggesting these are valuation trims rather than bearish conviction calls.

Cummins also drew a target cut, with consensus sliding to $745.96 from $752.51.

Going the other way, life sciences firm Revvity attracted an upward target revision. Analysts lifted the average price target to $129.35 from $128.47. Revvity carries a 5.8% short interest. A rising target in a modestly shorted stock can add further squeeze pressure.

Deere & Company and Snap-on also received target upgrades. Deere's consensus target rose to $690.53. Snap-on's crept up to $416.56.

On the leisure side, Carnival Corporation and Norwegian Cruise Line both absorbed small target cuts, continuing a cautious tone on consumer discretionary travel names.