DA Davidson analyst Brent Thielman initiated Arcosa with a Buy rating and a price target of $40. The analyst says that many of the company's legacy construction and transportation market-serving assets inherited from its Trinity Industries spin-off are in the top 3 market-share spots within their respective industries. Thielman is also positive on Arcosa having "inherited no material liabilities or debt post spin." The analyst believes that the company can grow its annual earnings and EBITDA by about 18% in the next two year and, with "meaningful liquidity and less internal competition for capital", has improved its "position to expand its most profitable businesses."