Martin Marietta Materials' (MLM) earnings are expected to benefit from a "supportive" construction market and a portfolio strategy that drives enhanced product mix and higher margins. UBS Securities said Thursday in a report.
A stronger acceleration in construction resulting in higher-than-expected aggregates volume and "more supportive" pricing in 2026 may spur higher gross profits, UBS said.
The reacceleration in nonresidential construction activity in H2 and into the following year may drive aggregates volume growth of 4% in 2026, UBS said.
UBS forecasts Martin Marietta adjusted earnings per share of $17.35 in 2024, $21 in 2025 and $24.05 in 2026.
"We see upside for the stock as investors gain confidence in the earnings growth we assume through 2026," UBS said.
UBS initiated coverage of the building materials company with a buy rating and a $730 price target.
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