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Core & Main Inc (NYSE: CNM) Maintains Neutral Rating from Citigroup Amid Strong Earnings
Financial Modeling Prepยท 2025-12-11 01:00
Core Insights - Core & Main Inc (NYSE: CNM) is a leading distributor of water, wastewater, storm drainage, and fire protection products in the United States, serving municipalities, private water companies, and professional contractors [1] - Citigroup maintains a Neutral rating for CNM, with a price target increase from $54 to $56, reflecting confidence in the company's growth potential [3][6] Financial Performance - Core & Main reported earnings of 89 cents per share, exceeding the analyst consensus of 76 cents per share, while quarterly sales were $2.062 billion, slightly missing the expected $2.066 billion [2][6] - The company has kept its full-year 2025 sales guidance between $7.6 billion and $7.7 billion [2] Growth Areas - The company has experienced double-digit growth in fusible high-density polyethylene, treatment plant solutions, and geosynthetics products, with metering products seeing high single-digit growth due to strong demand for integrated solutions addressing aging water infrastructure [4][6] Stock Performance - CNM's stock is currently priced at $54.92, reflecting a 6.52% increase or $3.36, with a market capitalization of approximately $10.43 billion [5]