Dycom price target raised to $288 from $258 at UBS

UBS analyst Steven Fisher raised the firm’s price target on Dycom (DY) to $288 from $258 and keeps a Buy rating on the shares. UBS sees limited bright spots in Machinery earnings in Q2, telling investors in a research note that earnings should start to show tariff impacts while the direction of the economy remains uncertain. Construction machinery appears to have the best second half setup, but UBS sees risk of disappointment in 2H as inventories and demand likely have not improved enough to support improvement vs. the first half.