Primoris price target raised to $150 from $125 at DA Davidson

DA Davidson raised the firm’s price target on Primoris (PRIM) to $150 from $125 and keeps a Buy rating on the shares. The firm is citing the company’s stronger Q3 results but lower bookings, which looks to be timing/transitory-related with wins picking up recently, the analyst tells investors in a research note. DA Davidson adds it is positive on Primoris’ diverse exposures, with ample power generating capabilities and growth potential in the next few years.