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DY

Dycom

$68.03

-21.66 (-24.15%)

09:12
08/14/18
08/14
09:12
08/14/18
09:12

Dycom price target lowered to $77 from $98 at DA Davidson

DA Davidson analyst Brent Thielman lowered his price target on Dycom to $77 and kept his Neutral rating after its FY18 guidance cut yesterday driven "largely by delays to customer spending schedules and permit difficulties". The analyst maintains his view that Dycom is "on the precipice of a substantial build-out in communication infrastructure to satisfy network requirements for the upgrade to 5G", but despite its $7.9B backlog, the timing associated with this spending is "less clear". Given the limited visibility, Thielman expects investor apprehension on Dycom to persist.

DY Dycom
$68.03

-21.66 (-24.15%)

08/14/18
DBAB
08/14/18
NO CHANGE
Target $85
DBAB
Buy
Deutsche Bank keeps Buy rating on Dycom, cuts price target to $85
Yesterday's 25% selloff in shares of Dycom "amounts to no less than a capitulation trade," with many investors taking the second guide down in two quarters as a sign the business has little visibility, Deutsche Bank analyst Chad Dillard tells investors in a research note. The analyst lowered his price target for the shares to $85 from $121 but keeps a Buy rating on the name. He remains positive on Dycom's longer term cycle and highlights its "strong backlog build" during Q2. Dillard admits, however, that the shares "could remain in the penalty box" for the next one-to-two quarters.
08/14/18
08/14/18
DOWNGRADE
Target $75

Hold
Dycom downgraded to Hold after 'disappointing' results at Craig-Hallum
As previously reported, Craig-Hallum analyst Christian Schwab downgraded Dycom to Hold to Buy after the company preannounced disappointing Q2 results and lowered its outlook for the remainder of FY19. Management continues to see near-term timing and permitting uncertainty regarding large customer projects, he notes. The analyst also lowered his price target on the shares to $75 from $100.
08/14/18
WELS
08/14/18
NO CHANGE
Target $85
WELS
Outperform
Dycom price target lowered to $85 from $110 at Wells Fargo
Wells Fargo analyst Jennifer Fritzsche lowered her price target for Dycom to $85 from $110 after the company preannounced disappointing Q2 2019 earnings and slashed its FY2019 guidance. The headwind continues to be large customer programs not ramping as quickly as expected and "tactical considerations" around these deployments, primarily from permitting, she notes. The analyst reiterates an Outperform rating on the shares.
08/14/18
ADAM
08/14/18
NO CHANGE
Target $90
ADAM
Buy
Dycom price target lowered to $90 from $120 at Canaccord
Canaccord analyst Bobby Burleson lowered his price target on Dycom to $90 from $120 following its disappointing preliminary Q2 results and guidance. The analyst said despite the implied slower than expected ramps in the second half of the year, he continues to believe the company is poised to capitalize on the long term telecommunications investment cycle and an acceleration of growth to come next year. Burleson maintained his Buy rating on Dycom shares.

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