MYR Group price target raised to $163 from $136 at KeyBanc

KeyBanc raised the firm’s price target on MYR Group (MYRG) to $163 from $136 and keeps an Overweight rating on the shares. The firm notes the company reported a strong and clean quarter with revenue growth as the highlight, followed by better-than-expected margins. KeyBanc says it is encouraging to see the company return to growth mode after last year’s project challenges. The firm expects the company to generate the previously indicated mid-to-high single-digits core revenue growth in both segments in 2025.