Sterling Infrastructure initiated with an Overweight at Cantor Fitzgerald

Cantor Fitzgerald initiated coverage of Sterling Infrastructure (STRL) with an Overweight rating and $413 price target The Engineering & Construction sector is entering a multi-year investment cycle fueled by grid modernization, electrification, energy transition initiatives, and rising power demand from data centers and reshoring, while increasing utility capex is driving record backlogs, offering strong near-term revenue visibility and a durable long-term project pipeline, the analyst tells investors in a research note. Sterling as a transformed infrastructure contractor that has successfully shifted its portfolio toward higher-margin, mission-critical markets, including data centers, semiconductors, and advanced manufacturing, Cantor argues.