NV5 Global downgraded to Hold from Buy at Lake Street

Lake Street downgraded NV5 Global (NVEE) to Hold from Buy with a price target of $23, down from $41, after the company agreed to be acquired by Acuren (TIC) in a cash and stock transaction. NV5 created a strong engineering services platform in the infrastructure, buildings, and geospatial verticals, says the analyst, who believes the combination with Acuren “can build on this momentum.”