Primoris downgraded to Neutral from Overweight at JPMorgan

JPMorgan downgraded Primoris (PRIM) to Neutral from Overweight with a price target of $143, down from $145. The firm adjusted ratings in the clean energy space as part of its 2026 outlook. Within renewables, JPMorgan expects another year of outperformance for the utility-scale market, though it expects a trend towards larger, more complex projects as well as a more complex regulatory environment to lead to consolidation of upstream and downstream providers. The analyst maintains a preference for stocks with significant exposure to U.S.-based manufacturing, diversified end markets, and strong balance sheets.