Primoris initiated with a Sell at Goldman Sachs

Goldman Sachs analyst Adam Bubes initiated coverage of Primoris (PRIM) with a Sell rating and $117 price target The company’s end market demand backdrop will remain supportive, but its organic growth slowing, the analyst tells investors in a research note. Goldman says Primoris has benefited from a pull forward in solar revenue this year that has driven its solar growth well ahead of the underlying market.