Martin Marietta Raises MLM EPS Estimates

Jefferies is increasing its EPS estimates on shares of Martin Marietta (NYSE: MLM) from $2.57 to $2.85 for 2011 and from $3.72 to $4.02 for 2012 mainly due to lower production costs and a lower expected interest cost.

“Our price target remains $113 and we are retaining our Buy rating,” Jefferies writes.

Martin Marietta closed Tuesday at $90.65.