-- 獨立研究機構CFRA向提供了以下研究報告。 CFRA分析師的觀點摘要如下：我們將12個月目標價下修39美元至531美元，以未來12個月持續經營EBITDA預估值計算，EV/EBITDA為15.2倍，低於其五年平均水準16.1倍。我們認為，鑑於近年來受益於大量IIJA資金的建築環境不如往年，因此我們做出此折價是合理的。由於IIJA將於2026年9月30日到期，且目前尚無替代方案，我們認為，市場對持續資金的預期可能不足以反映基礎設施資金從延遲到取消的局面。我們將2026年每股收益預期下調0.47美元至19.45美元，並將2027年每股收益預期下調1.37美元至23.10美元。 MLM專注於其核心骨材業務，因此我們預計其EBITDA利潤率（連續經營）將擴大180個基點至35.4%，因為剝離的低利潤水泥/預拌混凝土業務不再拖累合併利潤率，儘管高企的燃料成本和通貨膨脹驅動的建築預算限制可能會限制定價能力。
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