Morgan Stanley lowered the firm’s price target on Martin Marietta (MLM) to $622 from $657 and keeps an Overweight rating on the shares. The firm upgraded its Machinery industry view to Attractive as it expects 2025 to “offer clarity on key equipment cycles, warranting higher beta.” Machinery equipment cycles may be approaching a trough, the analyst tells investors. Morgan Stanley believes improved cycle visibility warrants adding some incremental beta to one’s portfolio. However, with macro and geopolitical uncertainty still abound, risk remains elevated, so the choices for higher beta are names that “represent the more de-risked and attractive fundamental stories” where value can be unlocked in the coming year,” contends Morgan Stanley.
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Read More on MLM:
- Martin Marietta upgraded to Buy from Hold at HSBC
- Martin Marietta downgraded to Neutral from Outperform at Exane BNP Paribas
- Booking initiated, Workday downgraded: Wall Street’s top analyst calls
- JPMorgan upgrades Martin Marietta on infrastructure tailwinds
- Martin Marietta upgraded to Overweight from Neutral at JPMorgan
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
