Stifel analyst Brian Brophy raised the firm’s price target on MYR Group (MYRG) to $503 from $351 and keeps a Buy rating on the shares. The firm notes Q1 was above expectations, driven by a better-than-expected top line and, particularly, margin performance in both segments. Following strong margin performance, the company raised long-term expectations for margins in both segments, Stifel adds.
Claim 55% Off TipRanks
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Discover top-performing stock ideas and upgrade to a portfolio of market leaders with Smart Investor Picks
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on MYRG:
- MYR Group downgraded to Perform at Kansas City Capital on valuation
- MYR Group downgraded to Perform from Outperform at Kansas City Capital
- MYR Group price target raised to $450 from $373 at Baird
- MYR Group Inc. Lifts Outlook After Record Quarter
- MYR Group price target raised to $400 from $350 at Clear Street