-- 独立研究机构CFRA向提供了以下研究报告。CFRA分析师的观点总结如下：我们将12个月目标价下调39美元至531美元，按未来12个月持续经营EBITDA预估值计算，EV/EBITDA为15.2倍，低于其五年平均水平16.1倍。我们认为，鉴于近年来受益于大量IIJA资金的建筑环境不如往年，因此我们做出此折价是合理的。IIJA将于2026年9月30日到期，目前尚无替代方案，我们认为，市场对持续资金的预期可能不足以反映基础设施资金从延迟到取消的局面。我们将2026年每股收益预期下调0.47美元至19.45美元，并将2027年每股收益预期下调1.37美元至23.10美元。 MLM专注于其核心骨料业务，因此我们预计其EBITDA利润率（连续经营）将扩大180个基点至35.4%，因为剥离的低利润水泥/预拌混凝土业务不再拖累合并利润率，尽管高企的燃料成本和通货膨胀驱动的建筑预算限制可能会限制定价能力。
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