Orion Group initiated with an Overweight at JPMorgan

JPMorgan initiated coverage of Orion Group (ORN) with an Overweight rating and $16 price target representing 45% upside. Orion delivers mission-critical marine construction, dredging and large-scale concrete services, the analyst tells investors in a research note. The firm says the company is a pure-play beneficiary of the U.S. infrastructure and data center construction cycles. It sees Orion’s macro exposure and improving operational trajectory driving sustained revenue growth and margin expansion.