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Citi Raises PT on Martin Marietta Materials (MLM), Keeps a Buy Rating

Martin Marietta Materials, Inc. (NYSE:MLM) is one of the Best Cement Stocks to Buy For the Long Term. On March 2,  Citi analyst Anthony Pettinari raised the firm’s price target on Martin Marietta Materials, Inc. (NYSE:MLM) from $780 to $804, while maintaining a Buy rating. Earlier, on February 26, Jefferies also raised the price target from $761 to $785 and maintained a Buy rating on the stock.

​The bullish sentiment follows the company’s asset exchange with Quikrete Holdings, Inc. on February 23. As a result of this deal, the company acquired aggregates operations producing  roughly 20 million tons per year in Virginia, Missouri, Kansas, and Vancouver, BC (Canada). The deal also includes $450 million in cash. In return, Martin Marietta sold its Midlothian cement plant, related cement terminals, Texas ready-mixed concrete plants, and some non-core land.

​Analysts at Jefferies expect the company to pursue mergers and acquisitions to fill the gap created by the exchange. The firm also noted that the deal dragged the company’s “price-to-mix” by 250 basis points in 2026 as the company acquired lower margin aggregates in exchange for a high margin cement business. However, the firm noted that the company can optimize the new assets’ profitability to match corporate averages. The company can boost its gross profit by $50 million and offset the drag.

​Martin Marietta Materials, Inc. (NYSE:MLM) is a leading US-based supplier of construction aggregates like crushed stone, sand, and gravel, operating ~390 quarries, mines, and yards across 28 states, Canada, and The Bahamas.

While we acknowledge the risk and potential of MLM as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than MLM and that has 10,000% upside potential, check out our report about this cheapest AI stock.

READ NEXT: 33 Stocks That Should Double in 3 Years and 15 Stocks That Will Make You Rich in 10 Years

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