MYR Group initiated with an Overweight at Cantor Fitzgerald

Cantor Fitzgerald initiated coverage of MYR Group (MYRG) with an Overweight rating and $285 price target The Engineering & Construction sector is entering a multi-year investment cycle fueled by grid modernization, electrification, energy transition initiatives, and rising power demand from data centers and reshoring, while increasing utility capex is driving record backlogs, offering strong near-term revenue visibility and a durable long-term project pipeline, the analyst tells investors in a research note. MYR continues to intentionally pace growth, emphasizing execution quality and margin discipline rather than top-line growth, Cantor says.