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.
Claim 55% Off TipRanks
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Discover top-performing stock ideas and upgrade to a portfolio of market leaders with Smart Investor Picks
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on SLND:
- Southland Holdings reports Q3 adjusted EPS ($1.14), consensus (9c)
- Is SLND a Buy, Before Earnings?
- Southland Holdings Secures $160M for Growth and Debt Refinancing
- Aecon Group executes contract with City of Winnipeg for sewage plant upgrade
- Southland Holdings joint venture executes contract with City of Winnipeg