Piper Sandler starts MYR Group with a Neutral, $124 price target

As previously reported, Piper Sandler analyst Kashy Harrison initiated coverage of MYR Group (MYRG) with a Neutral rating and $124 price target The firm believes this specialty contractor is benefiting from key infrastructure development trends, including electrification, load growth, rising renewable penetration, aging infrastructure, and aging utility workforce. Between transmission, distribution, generation, data centers, and telecom, Piper estimates an over $200B annual market opportunity capable of supporting durable earnings growth.