Primoris earnings selloff brings buying opportunity, says JPMorgan

JPMorgan analyst Drew Chamberlain says that despite reporting record Q1 revenue and earnings that were well-ahead of prior estimates, a “lowly” fiscal 2025 guidance reiteration and an “extensively-signaled” bookings slowdown weighed on the shares. Despite no guidance increase and weaker bookings, JPMorgan remains confident in Primoris (PRIM) as its top pick and believes the shares look increasingly attractive, the analyst tells investors in a research note. It reiterates the company as its top pick with an Overweight rating and $90 price target