MYR Group price target raised to $400 from $350 at Clear Street

Clear Street raised the firm’s price target on MYR Group (MYRG) to $400 from $350 and keeps a Buy rating on the shares. The firm views the company’s Q1 report as strong. The analyst estimates data centers could comprise 5%-6% of MYR’s revenue this year. Clear cites the company’s improving gross margin profile, organic sales growth trajectory, and higher net cash position for the target boost.