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Fly News Breaks for February 27, 2020
DY
Feb 27, 2020 | 08:27 EDT
DA Davidson analyst Brent Thielman lowered the firm's price target on Dycom to $38 from $47 and keeps a Neutral rating on the shares. The analyst cites the company's Q4 earnings miss and below-consensus Q1 guidance, adding that the outlook commentary suggests that growth will be delayed until at least the second half of FY20. Thielman adds that while Dycom's bookings and cash flows improved in Q4, those trends do not look to be sustainable in the near term.
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