Everus Construction initiated with a Hold at GLJ Research

GLJ Research analyst Austin Wang initiated coverage of Everus Construction (ECG) with a Hold rating and $141 price target The firm notes that the company’s data center opportunity is fairly priced, the analyst tells investors in a research note. Despite management’s prudent execution, limited quantification of pre-fabrication capacity ramp and predominantly cost-plus contracting caps GLJ’s ability to credibly underwrite upside to both top- and bottom-line estimates, the firm added.