Dycom price target raised to $360 from $315 at Wells Fargo

Wells Fargo raised the firm’s price target on Dycom (DY) to $360 from $315 and keeps an Overweight rating on the shares. A beat-and-raise on its core business was supplemented by its $2B acquisition of Power Solutions, which will diversify and accelerate its revenue growth and should drive meaningful EPS accretion, with more than 20% EPS growth coming in FY27, the firm says.