Jefferies is increasing its EPS estimates on shares of Martin Marietta MLM from $2.57 to $2.85 for 2011 and from $3.72 to $4.02 for 2012 mainly due to lower production costs and a lower expected interest cost.
“Our price target remains $113 and we are retaining our Buy rating,” Jefferies writes.
Martin Marietta closed Tuesday at $90.65.
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