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Fly News Breaks for March 8, 2019
NVEE
Mar 8, 2019 | 09:07 EDT
Maxim analyst Tate Sullivan lowered his price target on NV5 Global after its Q1 earnings miss and its disclosure of accounting issues. The analyst is concerned with the company's slower conversion of backlog to revenue but keeps his Buy rating over the longer term. Sullivan attributes his positive stance to NV5 Global's regional infrastructure acquisition and integration strategy remaining intact, its rising free cash flows, and its low debt-to-EBITDA ratio.
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