B. Riley raised the firm’s price target on Dycom (DY) to $265 from $200 and keeps a Buy rating on the shares post the Q1 report. The increase in revenue was driven by growth in the service and maintenance business, and a newly installed fiber-to-the-home plant, the analyst tells investors in a research note. The firm says the results for Q1 reflect a better than expected start to the year with stronger than expected earnings growth and record backlog.
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