Granite price target raised to $130 from $125 at DA Davidson

DA Davidson analyst Brent Thielman raised the firm’s price target on Granite (GVA) to $130 from $125 and keeps a Buy rating on the shares. The company’s Q3 growth was somewhat slower than forecast on timing of ramp-up of new work, although margins and cash flow continue to improve significantly while CAP reached new highs and visibility into 2026 is healthy with incoming bookings, the analyst tells investors in a research note. The firm is confident in the management’s playbook which is yielding substantially improved results in recent years, DA Davidson added.