Wells Fargo downgrades construction materials; upgrades Martin Marietta
Wells Fargo Securities downgraded three construction materials companies and upgraded Martin Marietta Materials after analyst Timna Tanners flagged weaker government spending, elevated interest rates and soft housing demand that could pressure 2027 industry volumes.
Wells Fargo Securities on Wednesday downgraded three construction materials companies and upgraded Martin Marietta Materials NYSE:MLM, with analyst Timna Tanners saying weaker government spending, elevated interest rates and soft housing demand could pressure industry volumes in 2027.