Summit Materials shares are trading higher after RBC Capital maintained a Sector Perform rating on the stock and raised its price target from $38 to $39.
Portfolio Pulse from Benzinga Newsdesk
Summit Materials' stock price increased following RBC Capital's decision to maintain a Sector Perform rating while raising its price target from $38 to $39.
February 16, 2024 | 8:54 pm
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Summit Materials' stock price is likely to experience a short-term increase following RBC Capital's updated price target from $38 to $39, maintaining a Sector Perform rating.
Analyst ratings and price target adjustments are significant indicators for investors, often leading to short-term price movements. RBC Capital's decision to raise the price target for Summit Materials while maintaining a Sector Perform rating suggests a positive outlook on the stock, likely encouraging investor confidence and potentially leading to a short-term price increase.
CONFIDENCE 85
IMPORTANCE 75
RELEVANCE 90