Ferguson price target raised to $240 from $200 at Truist

Truist analyst Keith Hughes raised the firm’s price target on Ferguson (FERG) to $240 from $200 and keeps a Buy rating on the shares after its Q3 earnings beat and higher FY25 sales forecast. The company’s growth comes versus most peers that are still seeing a contraction in this business, while its volume was positive, led by double-digit gains in HVAC, Waterworks and Commercial/Industrial segments, the analyst tells investors in a research note.

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