Primoris price target lowered to $107 from $139 at Goldman Sachs

Goldman Sachs analyst Adam Bubes lowered the firm’s price target on Primoris (PRIM) to $107 from $139 and keeps a Sell rating on the shares. The Q1 results came in well below expectations, with EBITDA missing estimates by a wide margin due to solar project cost overruns and delays that significantly pressured Energy segment margins and revenues, while management noted that several challenged projects should complete over the next few quarters and expects margin headwinds to ease by Q4, the analyst tells investors in a research note. The company materially reduced its 2026 EBITDA guidance to $480M-$500M, reflecting project delays, cost overruns, and weaker solar contributions that more than offset benefits from the recently closed acquisition, the firm says.