Vulcan Materials Company (VMC) PT Raised to $149 at Citi With Room To Run

Citi analyst Scott Schrier raised the price target on Vulcan Materials Company (NYSE: VMC) to $149.00 (from $137.00) while maintaining a Buy rating after the company posted strong 1Q19 results with +11% organic vol growth and +6% mix adjusted pricing. This report was with CA volumes down DD on drought ending rain.

The analyst stated "The stock is up +31% YTD, and now trades at 15.3x 2019E EBITDA (cons.), which is still
below its LT FY1 median. While we do expect some pushback on valuation, which is nothing new for VMC, our analysis indicates that when VMC trades above 15x NTM EBITDA, the stock has returned +16% over the subsequent 12 months".

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