Primoris price target raised to $76 from $75 at Piper Sandler

Piper Sandler analyst Kashy Harrison raised the firm’s price target on Primoris (PRIM) to $76 from $75 and keeps an Overweight rating on the shares. The firm cites a good update from Primoris, with EBITDA exceeding Street expectations by 19% and positive commentary on the forward outlook. While there has been concern about project development given tariffs, ADCVD and IRA risk, Primoris continues to see robust demand, Piper adds.