Emcor price target raised to $430 from $410 at DA Davidson

DA Davidson raised the firm’s price target on Emcor to $430 from $410 and keeps a Buy rating on the shares after its Q2 earnings beat. Despite the ssubstantial earnings growth upside and a guidance increase, the stock’s reaction was muted on a sequential Remaining Performance Obligations decline, stoking some concerns around growth potential beyond this year, the analyst tells investors in a research note. The firm adds however that upside levers remain, particularly if Emcor can sustain margin expansion trends seen over the last several quarters.