Guggenheim downgrades Primoris to Neutral ahead of Q3 report

As previously reported, Guggenheim downgraded Primoris (PRIM) to Neutral from Buy without a price target The company’s Q3 report is unlikely to move the stock higher, the analyst tells investors in a research note. The firm says Primoris’ power delivery business is helped by weather-related damage to electric utility infrastructure, which won’t be catalyst in Q3 with the absence of violent summer weather. Further, the shares are up more than 80% in 2025, Guggenheim adds. Primoris in morning trading is down 3% to $135.99.