Truist Securities Reiterates Buy Rating on Ferguson Plc. (FERG)

Truist Securities analyst Keith Hughes reiterated a Buy rating and $230.00 price target on Ferguson Plc. (NYSE: FERG).

The analyst comments "We lowered our FY25 estimate (YE July 25) below consensus as we believe FERG will provide a more limited growth outlook. Residential markets aren't seeing notable improvement in our view, with a rate cut helping only late in FERG’s FY25. Non-resi markets continue to weaken with a surprisingly weak read in municipal markets from peer CNM. FERG's diversity provides a counterbalance but still limits any gain. We remain Buy on as we believe Fed rate cuts provided a “floor” on most of our group with FERG a low beta name. We believe a cycle is starting and FERG will be a group leader once all end user markets are moving in the right direction."

For an analyst ratings summary and ratings history on Ferguson Plc. click here. For more ratings news on Ferguson Plc. click here.

Shares of Ferguson Plc. closed at $190.20 yesterday.

You May Also Be Interested In

• Goldman Sachs Downgrades EssilorLuxottica SA (EL:FP) (ESLOY) to Neutral
• Wynnchurch Capital Announces $1.6 Billion Sale of FloWorks to Ferguson Enterprises
• Lode Gold plans $7M private placement with Coast Capital follow-on