DA Davidson raised the firm’s price target on Matrix Service (MTRX) to $20 from $18 and keeps a Buy rating on the shares after its Q2 earnings beat. Despite the shift in some revenue this year, the company should still see substantial growth in the second half with good near-term bookings opportunities, the analyst tells investors in a research note. Matrix Service’s balance sheet remains in good shape with no debt and building cash, and the company offers leverage to energy infrastructure investment in the U.S., the firm added.
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