Primoris price target raised to $74 from $67 at KeyBanc

KeyBanc analyst Sangita Jain raised the firm’s price target on Primoris (PRIM) to $74 from $67 on a lower multiple, while keeping an Overweight rating on the shares. The firm notes the company reported a strong Q1 beat and maintained 2025 targets, positioning it to achieve the high end of guidance with potential for a raise later in the year without a worsening macro environment. Margins continue to benefit from a mix shift toward higher margin solar business, while power delivery is benefiting from a refreshed slate of rate cases and contract renewals, KeyBanc adds.