Vertical Research Stock Recommendations and Price Targets

This is a list of recent ratings by Vertical Research.

Date	Company Name	Action	Current Price	Price Target	Rating
3/9/2026	DOW DOW	Upgrade	$37.00	$37.00	Hold ➝ Buy
3/9/2026	CE Celanese	Upgrade	$60.00	$60.00	Hold ➝ Buy
3/9/2026	LYB LyondellBasell Industries	Upgrade	$75.00	$75.00	Hold ➝ Buy
2/27/2026	IBP Installed Building Products	Upgrade	$272.00	$326.00	Sell ➝ Hold
2/6/2026	RAL Ralliant	Upgrade	$42.00	$45.00	Hold ➝ Buy
1/27/2026	RTX RTX	Reiterated Rating	$200.00	$227.00	Buy ➝ Buy
1/27/2026	NOC Northrop Grumman	Reiterated Rating	$713.00	$688.00	Hold ➝ Hold
1/27/2026	BA Boeing	Reiterated Rating	$201.00	$281.00	Buy ➝ Buy
1/13/2026	LHX L3Harris Technologies	Reiterated Rating	$364.00	$355.00	Buy ➝ Buy
1/9/2026	TER Teradyne	Downgrade	$302.00	$220.00	Buy ➝ Hold
1/8/2026	JBHT J.B. Hunt Transport Services	Downgrade	$200.00	$200.00	Strong-Buy ➝ Hold
1/7/2026	SOLS Solstice Advanced Mat	Upgrade	$73.00	$58.00	Hold ➝ Buy
1/7/2026	MAGN Magnera	Downgrade	$10.00	$16.00	Buy ➝ Hold
1/7/2026	AXTA Axalta Coating Systems	Downgrade	$26.00		Buy ➝ Hold
1/7/2026	SHW Sherwin-Williams	Upgrade	$310.00	$371.00	Hold ➝ Buy
1/7/2026	LYB LyondellBasell Industries	Downgrade	$75.00	$48.00	Buy ➝ Hold
1/5/2026	CNI Canadian National Railway	Upgrade	$99.00		Hold ➝ Buy
1/5/2026	CNR Canadian National Railway	Upgrade	C$136.00		Hold ➝ Strong-Buy
1/5/2026	HON Honeywell International	Downgrade	$229.00	$220.00	Buy ➝ Hold
12/23/2025	DY Dycom Industries	Initiated Coverage	$356.00	$420.00	Buy
12/15/2025	NDSN Nordson	Upgrade	$267.00	$270.00	Hold ➝ Buy
11/25/2025	AMRZ Amrize	Initiated Coverage	$54.00	$54.00	Hold
11/20/2025	MAGN Magnera	Upgrade	$10.00	$15.00	Hold ➝ Buy
11/19/2025	JHX James Hardie Industries	Upgrade	$20.00	$21.00	Hold ➝ Buy
11/5/2025	TREX Trex	Downgrade	$37.00	$32.00	Buy ➝ Hold
11/3/2025	UHAL U-Haul	Set Price Target	$43.00	$80.00	Buy
11/3/2025	UHAL U-Haul	Upgrade	$43.00		Strong-Buy
10/27/2025	GD General Dynamics	Upgrade	$349.00	$400.00	Hold ➝ Buy
10/21/2025	BLD TopBuild	Initiated Coverage	$347.00	$517.96	Buy
10/21/2025	FBIN Fortune Brands Innovations	Initiated Coverage	$41.00	$52.00	Hold
10/21/2025	QXO QXO	Initiated Coverage	$20.00	$30.00	Buy
10/21/2025	BLD TopBuild	Upgrade	$347.00		Strong-Buy
10/20/2025	FERG Ferguson	Initiated Coverage	$218.00	$291.99	Buy
10/20/2025	BLDR Builders FirstSource	Initiated Coverage	$84.00	$109.41	Sell
10/20/2025	AWI Armstrong World Industries	Initiated Coverage	$165.00	$238.00	Buy
10/20/2025	JHX James Hardie Industries	Initiated Coverage	$20.00		Hold
10/20/2025	TREX Trex	Initiated Coverage	$37.00		Buy
10/20/2025	MAS Masco	Initiated Coverage	$60.00		Hold
10/20/2025	LPX Louisiana-Pacific	Initiated Coverage	$72.00		Buy
10/20/2025	BLDR Builders FirstSource	Upgrade	$84.00		Strong Sell
10/20/2025	OC Owens Corning	Initiated Coverage	$103.00		Hold
10/20/2025	MHK Mohawk Industries	Initiated Coverage	$98.00		Buy
10/20/2025	AWI Armstrong World Industries	Upgrade	$165.00		Strong-Buy
10/20/2025	FERG Ferguson	Upgrade	$218.00		Strong-Buy
10/20/2025	IBP Installed Building Products	Initiated Coverage	$272.00		Sell
10/20/2025	CSL Carlisle Companies	Initiated Coverage	$333.00		Hold
10/15/2025	AXTA Axalta Coating Systems	Set Price Target	$26.00	$37.00	Buy
10/15/2025	AXTA Axalta Coating Systems	Upgrade	$26.00		Hold ➝ Buy
9/19/2025	FDX FedEx	Lower Price Target	$355.00	$280.00 ➝ $275.00
9/8/2025	BA Boeing	Upgrade	$201.00	$242.00 ➝ $270.00	Hold ➝ Buy
8/1/2025	CRH CRH	Upgrade	$101.00		Strong-Buy
7/31/2025	HWM Howmet Aerospace	Reiterated Rating	$233.00		Buy ➝ Buy
7/31/2025	ODFL Old Dominion Freight Line	Upgrade	$182.00	$170.00	Hold ➝ Buy
7/30/2025	UPS United Parcel Service	Reiterated Rating	$97.00	$103.00	Buy ➝ Hold
7/23/2025	PCAR PACCAR	Upgrade	$113.00		Strong-Buy
7/22/2025	LMT Lockheed Martin	Reiterated Rating	$636.00	$460.00	Hold ➝ Hold
6/25/2025	DOW DOW	Lower Price Target	$37.00	$35.00 ➝ $33.00
6/17/2025	NDSN Nordson	Initiated Coverage	$267.00	$245.00	Hold
5/14/2025	SEI Solaris Energy Infrastructure	Initiated Coverage	$66.00	$36.00	Buy
5/8/2025	JCI Johnson Controls International	Upgrade	$133.00	$105.00	Hold ➝ Buy
4/25/2025	TEL TE Connectivity	Upgrade	$198.00	$170.00	Hold ➝ Buy
3/19/2025	MAGN Magnera	Initiated Coverage	$10.00	$21.00	Hold
3/7/2025	TER Teradyne	Initiated Coverage	$302.00	$135.00	Buy
3/6/2025	CE Celanese	Upgrade	$60.00	$66.00	Sell ➝ Hold
3/6/2025	XPO XPO	Upgrade	$187.00	$140.00	Hold ➝ Buy
2/28/2025	RYCEY Rolls-Royce Holdings PLC	Upgrade	$16.00		Strong-Buy
2/5/2025	FMC FMC	Upgrade	$14.00		Hold
1/28/2025	RTX RTX	Upgrade	$200.00		Strong-Buy
1/6/2025	FUL H. B. Fuller	Downgrade	$50.00		Buy ➝ Hold
1/6/2025	TXT Textron	Upgrade	$89.00	$91.00	Hold ➝ Buy
1/6/2025	GD General Dynamics	Downgrade	$349.00	$352.00 ➝ $290.00	Buy ➝ Hold
12/10/2024	TPC Tutor Perini	Initiated Coverage	$72.00	$38.00	Buy
11/7/2024	IFF International Flavors & Fragrances	Upgrade	$68.00	$109.00	Hold ➝ Buy
11/6/2024	CMI Cummins	Downgrade	$539.00	$350.00	Buy ➝ Hold
10/29/2024	CE Celanese	Downgrade	$60.00	$130.00	Hold ➝ Sell
10/10/2024	HXL Hexcel	Downgrade	$79.00	$65.00	Buy ➝ Hold
10/10/2024	HII Huntington Ingalls Industries	Downgrade	$418.00	$275.00	Buy ➝ Hold
10/7/2024	APD Air Products and Chemicals	Upgrade	$285.00	$336.00	Hold ➝ Buy
7/23/2024	SYM Symbotic	Initiated Coverage	$51.00	$45.00	Hold
7/23/2024	ST Sensata Technologies	Initiated Coverage	$34.00	$55.00	Buy
7/23/2024	CGNX Cognex	Initiated Coverage	$50.00	$58.00	Buy
7/23/2024	APH Amphenol	Initiated Coverage	$130.00	$65.00	Hold
7/23/2024	BDC Belden	Initiated Coverage	$114.00	$110.00	Buy
7/23/2024	KEYS Keysight Technologies	Initiated Coverage	$290.00	$175.00	Buy
7/23/2024	TEL TE Connectivity	Initiated Coverage	$198.00	$155.00	Hold
7/23/2024	ZBRA Zebra Technologies	Initiated Coverage	$206.00	$375.00	Buy
7/23/2024	TDY Teledyne Technologies	Initiated Coverage	$635.00	$470.00	Buy
7/16/2024	RPM RPM International	Upgrade	$97.00	$126.00	Hold ➝ Buy
7/9/2024	MRTN Marten Transport	Downgrade	$12.00	$22.00 ➝ $19.00	Buy ➝ Hold
7/9/2024	CHRW C.H. Robinson Worldwide	Upgrade	$175.00	$102.00	Sell ➝ Buy
6/14/2024	R Ryder System	Upgrade	$192.00	$125.00 ➝ $145.00	Hold ➝ Buy
6/7/2024	LYFT Lyft	Upgrade	$13.00		Strong-Buy
5/16/2024	MMM 3M	Upgrade	$143.00	$92.00 ➝ $140.00	Hold ➝ Buy
4/29/2024	ODFL Old Dominion Freight Line	Upgrade	$182.00	$175.00	Sell ➝ Hold
4/24/2024	CR Crane	Upgrade	$174.00		Hold ➝ Buy
4/8/2024	WLK Westlake	Downgrade	$111.00	$154.00	Buy ➝ Hold
4/4/2024	GE GE Aerospace	Initiated Coverage	$291.00	$160.00	Buy
3/22/2024	CRH CRH	Initiated Coverage	$101.00	$105.00	Buy
3/19/2024	FUL H. B. Fuller	Initiated Coverage	$50.00	$88.00	Buy
3/8/2024	ALB Albemarle	Downgrade	$163.00	$145.00	Buy ➝ Hold