Matrix Service price target lowered to $17 from $18 at DA Davidson

DA Davidson lowered the firm’s price target on Matrix Service (MTRX) to $17 from $18 and keeps a Buy rating on the shares after its Q4 results. The company’s net cash, improving revenue volume and future bookings prospects associated with power development are positives, but its progress toward profitability has not been linear, the analyst tells investors in a research note.