- Vulcan Materials (VMC +1.2%) is upgraded to Outperform from Sector Perform with a $93 price target, up from $82, at RBC Capital after the firm attended the company's investor day.
- The firm cites VMC's improving demand which is leading to robust volume growth, and an increased emphasis on returning cash to shareholders; it notes that VMC is the largest producer of aggregates in the U.S. with the no. 1 or no. 2 share in 85% of its markets.
- RBC says VMC's $11B market value makes the stock most suitable for mid-cap and large-cap investors who are comfortable owning a highly cyclical company in the early stages of a multi-year recovery.