Citi lowered the firm’s price target on Ferguson (FERG) to $189 from $221 and keeps a Neutral rating on the shares. Citi updated estimates and top picks as part of a 2025 outlook for the homebuilding and building products group. The firm’s 2025 earnings estimates fell 3% on average, and are now below consensus for most producers. After housing starts, remodeling spend, and cement volumes fell in 2024, Citi expects a “very modest rebound year” in 2025, the analyst tells investors in a research note. The firm remains cautious on homebuilders, which it says have the greatest sensitivity to elevated rates. Its top picks are CRH (CRH), Owens Corning (OC), and Vulcan Materials (VMC).
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Read More on FERG:
- Ferguson Enterprises Director Acquires Common Stock
- Ferguson price target lowered to $215 from $220 at Wells Fargo
- Ferguson Directors Receive Stock Units; Beckwitt Buys Shares
- Ferguson price target lowered to $234 from $245 at Barclays
- Ferguson price target lowered to $225 from $230 at Baird
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
