Concrete Pumping price target lowered to $9 from $9.50 at DA Davidson

DA Davidson analyst Brent Thielman lowered the firm’s price target on Concrete Pumping (BBCP) to $9 from $9.50 but keeps a Buy rating on the shares. The company’s Q1 earnings miss represents a tough start to the year albeit in a seasonally less meaningful quarter, with commercial softness lingering on results and guidance beyond weather adversity, the analyst tells investors in a research note. The firm adds however that free cash flow should remain healthy this year with debt maturities extended, lending ample liquidity for the stock.