Dycom price target raised to $300 from $265 at DA Davidson

DA Davidson raised the firm’s price target on Dycom (DY) to $300 from $265 and keeps a Buy rating on the shares. The firm continues to believe that new sources of total addressable market and opportunity for Dycom services strengthens its medium to long-term growth and operating leverage potential, the analyst tells investors in a research note. DA Davidson adds its higher price target reflects the recent and anticipated margin performance.