02:40 PM EDT, 03/21/2024 (MT Newswires) -- CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows:

We increase our 12-month target price by $43 to $290, which assumes EXP will trade at an EV/EBITDA multiple of 12.0x our FY 2025 (Mar.) EBITDA estimate, a premium to EXP's three-year average forward EV/EBITDA of 9.1x but still a discount to the peer group, which trades at an average forward EV/EBITDA of 14.1x. We maintain our FY 2024 EPS estimate at $14.36 but raise FY 2025's by $0.37 to $16.25. We expect multiple expansion (reaching closer to peers) to be a big driver of EXP's outperformance relative to peers and we forecast strong pricing to be a significant contributor to double-digit growth in both adjusted EPS and adjusted EBITDA over the next 24 months. Our discounted cash flow (DCF) analysis gives us more confidence in our Buy recommendation, as we calculate an intrinsic value of about $342 per share, around 30% upside to the current share price.