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Fly News Breaks for August 12, 2019
Aug 12, 2019 | 09:14 EDT
DA Davidson analyst Brent Thielman lowered his price target on Tutor Perini after its "significant shortfall" in Q2 earnings driven by impairment charges, ongoing difficulties in Specialty and weather delays. The analyst maintains his Buy rating however and sees the company's progress toward cash collection as "encouraging". Thielman also notes that Tutor Perini's Civil segment will be the primary earnings driver in the coming 2-3 years, and believes that this business unit has just "scratched the surface" on new work execution.
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