William Blair analyst Tim Mulrooney initiated coverage of Emcor (EME) with an Outperform rating. The firm believes both Emcor and Comfort Systems are “strategic linchpins” of industrial reshoring policy in the U.S., which will require many hours of labor-intensive skilled trades work. Demand for the companies’ services is unlikely to slow down anytime soon, as the U.S. continues to move through the early stages of a reshoring capex supercycle, the analyst tells investors in a research note.
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