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Fly News Breaks for July 11, 2019
PRIM
Jul 11, 2019 | 09:05 EDT
DA Davidson analyst Brent Thielman is lowering his Q2 EPS view on Primoris to 30c from 38c to reflect the impact of rain and flooding in the Midwest, which pose challenges to the company's Utilities & Distribution segment. The analyst also maintains his Buy rating and $30 price target on the shares, stating that he still sees active bookings opportunities and potential drivers of "meaningful earnings growth" to come in FY20, adding that Primoris is trading at "bargain" 13-times forward earnings multiple given those factors.
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