BofA lowered the firm’s price target on Construction Partners (ROAD) to $115 from $120 and keeps a Buy rating on the shares. The firm updated its model post fiscal Q4 results and 2026 guidance, telling investors that it believes a lower multiple is warranted as the industry waits for reauthorization of infrastructure funding. However, the firm cites what it sees as a positive growth outlook and the company’s ability to consolidate a fragmented industry over time for its Buy rating.
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