Primoris price target lowered to $158 from $159 at KeyBanc

KeyBanc lowered the firm’s price target on Primoris (PRIM) to $158 from $159 and keeps an Overweight rating on the shares. Despite two plus years of strong outperformance, the firm maintains Primoris as a favorite for 2026. The valuation is undemanding relative to peers and there are several growth drivers heading into 2026. While the shares took a breather post Q3 results based on commentary related to renewables, KeyBanc thinks the safe harbor deadlines and OBBBA led clarity on renewable tax credits will continue to drive growth in solar and storage.