Analysts expect Ferguson to post Q1 2026 revenue of $7.78 billion and an EPS of $2.14, while the stock currently trades at approximately $264.27 against a consensus price target of $267.27. Investors are primarily focused on the company's "mega-project" pipeline within the non-residential sector, particularly large-scale data centers and infrastructure. These projects now account for roughly 10% of total sales and were the primary driver of double-digit growth in recent quarters, offsetting a sluggish residential market. Despite a bottom-line miss in the prior quarter, strong pricing power for finished goods and the company's recent redomiciliation to the U.S. continue to underpin a constructive long-term outlook among major Wall Street firms.