The analyst's reiterated Buy rating and increased price target indicate a positive outlook for Eagle Materials Inc. The company's strong Q1 2024 performance, with a 7% Y/Y increase in revenues, and the continued strong demand for its products, as evidenced by near sold-out conditions at its plants and double-digit pricing increases in about half its cement markets, are likely to support its stock price. However, the slower-than-expected wallboard results and the expectation of the bottom of the wallboard market in the next two to three quarters could create some uncertainty.