Dycom price target raised to $475 from $365 at BofA

BofA raised the firm’s price target on Dycom (DY) to $475 from $365 and keeps a Buy rating on the shares. The firm updated estimates to incorporate Power Solutions’ early closing and notes that Dycom will report Q4 earnings on March 4. The growth story “remains sturdy” as Dycom is heavily exposed to multiple industry growth vectors with long-tails of demand, says the analyst, who identifies Dycom as a top SMID cap pick.