UPDATE: Wedbush Raises PT to $4.50 on Willdan Group

A report from Wedbush reiterates its Neutral rating and raises its price target from $4 to $4.50 on Willdan Group

. The report states, “We are reaffirming our cautious stance on shares of Willdan Group (

) despite the company's better-than-expected Q3 GAAP results. The company exceeded our operating expectations given the solid flow of energy efficiency project work and disciplined cost management in the quarter. While the improved visibility in new markets and project pipeline are encouraging, we expect moderate near-term top-line growth as the company enters into new energy markets.” WLDN closed yesterday at $3.85.