Tutor Perini price target raised to $120 from $95 at B. Riley

B. Riley raised the firm’s price target on Tutor Perini (TPC) to $120 from $95 and keeps a Buy rating on the shares. Tutor Perini reported Q4 revenue of $1.51B, up 41% year over year, with adjusted EBITDA of $62.3M and EPS of 54c, driven by higher-margin, large-scale projects across all segments, the analyst tells investors in a research note. The company’s backlog rose 10% y/y with $1B in future projects identified, positioning it for continued revenue and earnings growth amid strong construction demand, the firm says.