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Fly News Breaks for November 7, 2018
GVA
Nov 7, 2018 | 08:02 EDT
MKM Partners analyst Daniel Scott raised his price target on Granite Construction to $59 and kept his Buy rating, saying that the defeat of Proposition 6 in California that would have overturned the state's $55B infrastructure plan removes a major overhang on the shares. The analyst notes that the state is the company's biggest market with over 30% of its revenues, and the repeal could have impacted its earnings by over $1 per share.
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