Bank of America Securities analyst Alexander Waters maintained a Buy rating on Dycom (DY – Research Report) yesterday and set a price target of $210.00.
Alexander Waters has given his Buy rating due to a combination of factors that highlight Dycom Industries’ strong financial performance and future growth potential. The company’s fourth-quarter results exceeded expectations, driven in part by revenues from storm restoration services and acquisitions, which contributed to a significant year-over-year revenue growth. Despite a slight decrease in project backlog and employee headcount, Dycom’s adjusted EBITDA margin expansion surpassed guidance, indicating operational efficiency.
Furthermore, Dycom’s strategic actions, such as share repurchases and a newly authorized repurchase program, reflect confidence in its financial health and commitment to returning value to shareholders. The company’s guidance for 2026 suggests a robust increase in contract revenues, although it does not factor in additional storm restoration work. Overall, the maintained Buy rating and price objective of $210 suggest an attractive upside potential, reinforcing Dycom as a top pick in the small to mid-cap segment.
According to TipRanks, Waters is ranked #3800 out of 9385 analysts.
In another report released today, KeyBanc also maintained a Buy rating on the stock with a $201.00 price target.