Wells Fargo cuts target for Core & Main stock to USD 48.00

Published on 10/06/2026 at 11:38 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Core & Main reported USD 2.15 billion revenue in the quarter ended August 2, 2026. Core & Main stock sits at a USD 7.8 billion market value.

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Wells Fargo cut its Core & Main price target from USD 65.00 to USD 48.00 on September 10, 2026, while keeping an Overweight rating, according to Investing.com. The reduction followed Core & Main's second-quarter results and put margin performance at the center of the investment case.

Target reset meets steady growth

MarketBeat reported that Core & Main generated USD 2.15 billion in revenue in the quarter ended August 2, 2026, up 2.50 percent from the same period a year earlier. Earnings per share reached USD 0.94, above the USD 0.91 consensus estimate.

The results show a modest sales comparison but a clearer earnings contribution. MarketBeat also reported that the company maintained an average Hold rating across 13 analysts, with seven Buy ratings, five Hold ratings and one Sell rating, alongside an average target of USD 54.70.

Margins set the next test

Wells Fargo kept its Overweight view but lowered its fiscal 2026 earnings estimate to USD 3.00 per share and its fiscal 2027 estimate to USD 3.10 from USD 3.20, according to Investing.com. The firm cited margin fluctuations through the fourth quarter as a constraint on near-term upside.

The same report said adjusted EBITDA rose 3.00 percent to USD 274.00 million in the quarter, while the adjusted EBITDA margin improved to 12.80 percent from the prior-year period. That combination gives investors a measurable test: sales growth must translate into broader profitability as the fiscal year progresses.

NYSE valuation and range

Core & Main's investor-relations page describes the company as a specialty distributor of water, wastewater, storm drainage and fire protection products and services, supporting municipal, residential and non-residential customers through its national network. Its reported FY25 net sales were USD 7.6 billion, according to Core & Main.

CNM was last at USD 41.82 on the NYSE on October 5, 2026 at 4:00 p.m. EDT, versus a prior-session close of USD 41.35 and a plus 1.14 percent change. The market capitalization was USD 7.8 billion as of October 5, 2026, and the 52-week range was USD 40.03 to USD 59.66.