Benzinga | Sep 15, 2021 01:21PM EDT

Core & Main Price Target Raised At RBC Capital, Credit Suisse After Q2 Results

* RBC Capital analyst Mike Dahl raised Core & Main Inc (NYSE:CNM) price target to $30 (implying an upside of 8.8%) from $28 and maintained a Sector Perform rating on the shares.

* Dahl states company's near-term earnings momentum likely remains favorable given continued demand strength and pricing support amid accelerating supply shortages.

* Dahl adds that he prefers to wait for a better entry point, with the stock's expected near-term strength likely reflected in the 17-times expected FY22 adjusted EBITDA multiple.

* Also, Credit Suisse analyst Jamie Cook raised the price target from $31 to $33 (implying an upside of 19.7%) and maintained an Outperform ratings for the shares.

* Yesterday, the company reported its Q2 results, with 36% sales growth and margin expansions.

* Price Action: CNM shares are trading higher by 1.92% at $27.55 on the last check Wednesday.