Stifel raised the firm’s price target on Cardinal Infrastructure (CDNL) to $38 from $31 and keeps a Buy rating on the shares. Q4 backlog increased 33% year-over-year and implied new awards were up 130% year-over-year, notes the firm, which believes the “strong outgrowth” reflects a combination of share gains, particularly in newer markets such as Charlotte and Greensboro, geographic expansion, and additional commercial and DOT work.
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Read More on CDNL:
- Cardinal Infrastructure Expands Into Georgia, Reaffirms 2026 Outlook
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- Cardinal Infrastructure price target raised to $31 from $28 at Stifel
- Cardinal Infrastructure Expands into Georgia with ALGC Acquisition