Legence price target raised to $77 from $60 at Stifel

Stifel analyst Brian Brophy raised the firm’s price target on Legence (LGN) to $77 from $60 and keeps a Buy rating on the shares. The main takeaways from the firm’s Q1 electrical and mechanical contractor survey include that overall project activity improved sequentially and was ahead of expectations and that data centers remain an area of significant relative strength, the analyst tells investors in a note on the group.