BofA raised the firm’s price target on Dycom (DY) to $250 from $210 and keeps a Buy rating on the shares after fiscal Q1 results that beat BofA and the Street estimates in part due to outsized revenues from the company’s Black and Veatch acquisition in 2024. Dycom remains exposed to multiple long-term vectors, which continue to grow, says BofA, which views the AT&T (T) and Lumen (LUMN) transaction positively for Dycom and says the stock remains the analyst’s top 2025 SMID cap pick.
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