DA Davidson analyst Brent Thielman upgraded Granite Construction to Buy from Neutral and kept his $68 price target, saying the 18% slide in the stock price since January on broader market volatility has produced an attractive entry point. The analyst cites an "evident acceleration in California infrastructure lettings year-to-date, elapsing time toward completion of problem large projects weighing on margins and limited credit for the proposed Layne acquisition". Thielman also believes that Granite Construction should be "relatively immune" to stock market volatility and more driven by state and municipal funding.