Eagle Materials price target lowered to $240 from $246 at Wells Fargo

Wells Fargo lowered the firm's price target on Eagle Materials to $240 from $246 and keeps an Overweight rating on the shares. In a research note ahead of earnings for the Q2 Building Mats group, the firm says it sees Q2 pressured by higher energy costs, as pricing actions lag cost inflation. In addition, better evidence of leaner government spending ahead keeps Wells broadly cautious.