Craig-Hallum lowered the firm’s price target on Southland Holdings (SLND) to $5 from $9 and keeps a Buy rating on the shares. The firm notes Southland reported “disappointing” Q3 results with significant negative impacts from legacy work. Going forward, the continued work down of legacy projects is expected to remain a near term headwind to profitability with about $285M left in the company’s legacy backlog expected to be complete by the end of 2025.
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Read More on SLND:
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