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IEA

Infrastructure and Energy Alternatives

$6.23

-2.175 (-25.89%)

09:10
02/20/19
02/20
09:10
02/20/19
09:10

Infrastructure and Energy Alternatives price target lowered to $7 at DA Davidson

DA Davidson analyst Brent Thielman lowered his price target on Infrastructure and Energy Alternatives to $7 from $10 and kept his Neutral rating after the company pre-announced a lighter than expected Q4. The analyst notes that "severe weather issues" in South Texas, Iowa, and Michigan impacted 6 of the company's 9 wind projects with $30M-$35M in lost gross profit contribution. Thielman plans to further review his projections after Infrastructure and Energy Alternatives discloses full Q4 results next month.

IEA Infrastructure and Energy Alternatives
$6.23

-2.175 (-25.89%)

11/01/18
DADA
11/01/18
INITIATION
Target $10.5
DADA
Neutral
Infrastructure and Energy Alternatives initiated with a Neutral at DA Davidson
DA Davidson analyst Brent Thielman initiated Infrastructure and Energy Alternatives with a Neutral rating and a price target of $10.50, saying that although its peer group average multiple is about 6-times expected FY19 EBITDA, his price target implies valuation of about 5.5-times. The analyst notes that while the company offers longer-term benefits from its "radical transformation from nearly a pure wind construction play into other specialized construction verticals", new investors may be wary of building positions in a "newly public, micro-cap industry participant with greater financial leverage". Thielman also points to a "wide disparity" in the Street forecasts to his initial expectations for Infrastructure and Energy Alternatives performance.

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