Granite’s organic growth opportunities ‘intact’, says DA Davidson

DA Davidson keeps a Buy rating and $108 price target on Granite (GVA) after meeting with its management team. The company’s advancing M&A is clearly an emphasis, though its organic opportunities are also intact, and the firm is positive on the stock’s investment story gradually gaining investor traction as execution consistency, management strategy, improved materials asset leverage and infrastructure market opportunities all lend appeal at a valuation that is four turns below the infrastructure services group average, the analyst tells investors in a research note.