Wells Fargo analyst Jennifer Fritzsche raised his price target for Dycom to $63 from $50 after the company posted "strong" Q1 results, particularly from a top-line perspective, due to "significant growth" from four of its top five customers. Ultimately, the analyst believes Dycom can deliver double-digit earnings and EBITDA growth in 2021 after working through the near-term cost headwinds, but would remain slightly more cautious in the near-term based on the current valuation and the expectation for decelerating revenue growth and negative earnings/EBITDA growth through 2020. He reiterates an Outperform rating on the shares.