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Fly News Breaks for March 2, 2017
DY
Mar 2, 2017 | 09:29 EDT
Stephens analyst Matt Duncan raised his price target for Dycom to $120 from $100 after the company's Q2 results came in well ahead of consensus expectations, as strong organic growth coupled with improved gross margin and SG&A expense leverage drove significant earnings upside. The analyst remains a buyer of Dycom and continues to expect "strong EPS growth" for at least the next 3 fiscal years as telecommunication companies' capital spending plans accelerate and expand. He reiterates an Overweight rating on the shares.
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