Core & Main Analysts Boost Their Forecasts After Q4 Results
Portfolio Pulse from Avi Kapoor
Core & Main, Inc. (NYSE:CNM) reported Q4 sales of $1.44 billion, slightly above expectations, but missed EPS estimates by 1 cent. The company anticipates 2024 net sales between $7.4 billion to $7.6 billion and adjusted EBITDA of $925 million to $975 million. Shares rose 7.5% following the announcement. Barclays and Loop Capital raised their price targets on CNM, citing strong financial performance and growth prospects.
March 20, 2024 | 12:37 pm
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Core & Main reported higher than expected Q4 sales but missed EPS estimates. The company has a positive outlook for 2024, leading to a 7.5% increase in share price and raised price targets from Barclays and Loop Capital.
The positive sales report and optimistic 2024 outlook, combined with the share price increase and raised price targets by reputable analysts, suggest a strong short-term bullish sentiment for CNM.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100