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Fly News Breaks for January 7, 2019
GVA
Jan 7, 2019 | 09:28 EDT
DA Davidson analyst Brent Thielman lowered his price target on Granite Construction to $55 and also lowered his FY19 EPS view to $3.15 from $4.05. The analyst cites the "ongoing work still needed to complete large problem projects", particularly the company's large Florida job which runs through 2021. While there is little visibility on the progress of this project, Thielman keeps his Buy rating on Granite Construction longer term, saying that it continues to present an opportunity of a "solid bridge to earnings growth."
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