Centuri initiated with an Overweight at Cantor Fitzgerald

Cantor Fitzgerald analyst Manish Somaiya initiated coverage of Centuri (CTRI) with an Overweight rating and $34 price target The Engineering & Construction sector is entering a multi-year investment cycle fueled by grid modernization, electrification, energy transition initiatives, and rising power demand from data centers and reshoring, while increasing utility capex is driving record backlogs, offering strong near-term revenue visibility and a durable long-term project pipeline, the analyst tells investors in a research note. Centuri offers a highly recurring, MSA-driven utility revenue stream, with accelerating electric growth and rapid deleveraging following its spin, supporting valuation upside, Cantor argues.