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Fly News Breaks for February 28, 2018
PRIM
Feb 28, 2018 | 06:09 EDT
DA Davidson analyst Brent Thielman upgraded Primoris to Buy from Neutral and raised his price target to $30 from $27, saying the company's "blend of stable MSA work and targeted fixed-price construction opportunities support upside potential" on the stock. Thielman states that the company's FY18 outlook suggests a "notable" earnings growth thanks to lower taxes and recovering Civil performance. The analyst adds that the new target is in line with the company's historic valuation averages and may move up further if bookings prospects solidify in the next 6-12 months.
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