Stock Track | Core & Main Soars 5.03% Intraday on Strong Q3 Earnings and Analyst Upgrades

Stock Track12-11 03:16

Core & Main, Inc. (NYSE: CNM) saw its stock price surge by 5.03% during the intraday session on Wednesday, reflecting strong investor confidence.

The rally was driven by the company's better-than-expected Q3 earnings report, where it posted earnings of 89 cents per share, surpassing the consensus estimate of 76 cents. Despite a slight miss on sales ($2.062 billion vs. $2.066 billion expected), the company affirmed its FY2025 sales guidance of $7.600 billion to $7.700 billion. CEO Mark Witkowski highlighted strong performance in key product lines and geographic expansion efforts.

Analysts from Baird and JP Morgan raised their price targets following the earnings announcement, further boosting investor sentiment. Baird maintained an Outperform rating and increased the target to $64, while JP Morgan raised its target to $59 with an Overweight rating. Wells Fargo also raised its target price to $57 from $55.

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