Wells Fargo Expresses Caution on Core & Main (CNM) Amid Early 2026 Volatility

Core & Main Inc. (NYSE:CNM) is one of the best IPO stocks to buy right now. On January 14, Wells Fargo analyst Sam Reid raised the price target for Core & Main to $65 from $57 and maintained an Overweight rating. This adjustment was made as the firm observed that 2026 had begun with volatility and expressed caution ahead of the upcoming quarterly results.

Wells Fargo suggested that builders currently carry high risk following a recent market rally and noted that while products are mixed, they are not particularly compelling. The firm advised investors not to chase the stock at current levels.

On January 9, RBC Capital raised its price target for Core & Main Inc. (NYSE:CNM) to $63 from $62, with an Outperform rating. The firm expressed caution heading into early 2026 and cited persistent challenges in housing affordability and a potential inflection point for the repair and remodeling market later in the year. The firm expects continued volatility within the sector and noted that homebuilders remain the most cautious, while favor is shown toward distribution and building products OEMs due to relatively attractive valuations.

Core & Main Inc. (NYSE:CNM) distributes water, wastewater, storm drainage, and fire protection products and related services in the US.

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Disclosure: None. This article is originally published at Insider Monkey.