-- Martin Marietta Materials (MLM) has an average rating of overweight and mean price target of $706.39, according to analysts polled by FactSet.
(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www..com/contact-us)
Price: $631.66, Change: $+23.68, Percent Change: +3.89%
Brazil's state-run oil company Petrobras (PBR) said Friday it has agreed to acquire a controlling stake and assume operatorship of offshore Block 3 in Sao Tome and Principe from Nigeria's Oranto Petroleum.Under the terms of the deal, Petrobras will take a 75% interest in the block located offshore the tiny island nation of Sao Tome and Principe, which sits in the Gulf of Guinea off Africa's west coast.Upon completion, the consortium will consist of Petrobras as operator with 75%, Oranto with 15%, and the National Petroleum Agency of Sao Tome and Principe retaining its 10% stake. Oranto currently holds a 90% interest and serves as operator.Petrobras said the acquisition builds on its renewed presence in Africa since 2024, where it already holds stakes in other blocks in Sao Tome and Principe. The move is aimed at strengthening exploration activities in the region and diversifying the company's portfolio.Completion of the deal is subject to customary conditions, including regulatory and government approvals in Sao Tome and Principe.Petrobras said it will disclose any material developments related to the transaction to the market.Price: $19.98, Change: $-1.52, Percent Change: -7.07%
Stifel Canada on Friday reiterated its buy rating on the shares of Lassonde Industries (LAS-A.TO) and its C$280.00 price target as it hosted investor meetings with fruit juice and snacks company."We recently hosted investor meetings with Lassonde. Most of the discussions focused on growth plans and investments. We believe Lassonde is under-appreciated given its depressed valuation. The company has (1) organic revenue growth opportunities from recently introduced formats and further penetration in various distribution channels, (2) cost savings opportunities with the New Jersey plant, and (3) M&A opportunities. Lassonde's recent acquisition, Summer Garden, has been a success with a smooth integration and healthy synergy realization. This provides the company with credibility to make further acquisitions. It is not clear how long valuation will remain depressed, below 10x forward earnings, and what catalyst could help valuation re-rate closer to its historical level of 13x. A potential return to historical valuation would represent a stock price of $360, up more an upside of more than 50% from current levels. We believe the current share price provides investors with an appealing entry point," analyst Martin Landry wrote.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www..com/contact-us)Price: $230.00, Change: $-0.21, Percent Change: -0.09%
(Updated with additional details from Trump's Truth Social posts and the latest price movement.)Iran on Friday declared passage for all commercial vessels through the vital Strait of Hormuz, in line with the ceasefire in Lebanon.Hormuz will remain open for the remainder of the ceasefire, Iran's Minister of Foreign Affairs Abbas Araghchi posted on X."In line with the ceasefire in Lebanon, the passage for all commercial vessels through Strait of Hormuz is declared completely open for the remaining period of ceasefire, on the coordinated route as already announced by Ports and Maritime Organisation of the Islamic Rep. of Iran," Araghchi said.Oil prices fell sharply following the developments, with Brent declining about 11% to $88.73 per barrel, Murban also down 11% at $90.38/bbl, and West Texas Intermediate dropping about 13% to $82.77/bbl.The announcement also elicited a reaction from US President Donald Trump."Iran has just announced that the Strait of Iran is fully open and ready for full passage. Thank you," Trump posted on Truth Social.In multiple follow-up posts, Trump said a blockade on Iran remains in place until a final agreement is reached.He said, "the naval blockade will remain in full force and effect as it pertains to Iran, only, until such time as our transaction with Iran is 100% complete."Trump also signaled that talks are nearing completion, saying, "This process should go very quickly in that most of the points are already negotiated."Trump also pointed to progress in clearing navigation risks in the waterway, saying, "Iran, with the help of the USA, has removed, or is removing, all sea mines."In a separate post, Trump criticized Nato, suggesting it was not helpful earlier but offered assistance after the situation had already ended.Trump posted, "Now that the Hormuz Strait situation is over, I received a call from Nato asking if we would need some help. I told them to stay away, unless they just want to load up their ships with oil."Trump also thanked Saudi Arabia, UAE, and Qatar, saying, "Thank you to Saudi Arabia, UAE, and Qatar for your great bravery and help!"Separately, he also thanked Pakistan for its role in the negotiations.The US will retain nuclear material generated from recent operations, Trump said, stressing that no financial exchange will be involved under the arrangement.The agreement does not involve Lebanon, Trump added, but said the US will address the situation separately, adding Israel is "prohibited" from further strikes while Washington handles Hezbollah."Iran has agreed to never close the Strait of Hormuz again. It will no longer be used as a weapon against the world," he posted.The Strait of Hormuz, the primary maritime passage for most Middle East oil shipments, connects the Persian Gulf to the Gulf of Oman and handles almost 20% of global oil and gas flows.