Martin Marietta Shares Fall After Hurricane-Soaked 3Q, but Long-Term Outlook Still Strong
We’re raising narrow-moat Martin Marietta’s fair value estimate to $263 per share from $261. The increase is primarily due to the impact of the time value of money on our model. We think the market underestimates Martin Marietta’s growth and see shares as undervalued at this time.Martin Marietta’s geographic footprint is heavily weighted to Texas and the Southeastern United States, exposing it to some of the most attractive states from a construction perspective. However, this footprint hurt Ma...
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