DA Davidson & Co Downgrades Primoris Services Corporation to Neutral

DA Davidson & Co downgraded Primoris Services Corporation PRIM from Buy to Neutral in a research report published today. However, DA Davidon & Co's $17.50 price target on Primoris Services Corporation remains unchanged. In the report, DA Davidson & Co writes, "Our earnings expectations for 2012 and 2013 are unchanged. Although the company is well positioned to benefit from long-term growth in gas pipeline construction and repair work, lower levels of current large project activity will lead to difficult comparisons in early 2012. Over the next several years we expect the company to benefit from growth in demand for heavy construction services including underground construction, but also large industrial projects, power generation facilities and transportation infrastructure." Shares of Primoris Services Corporation are currently trading at $15.78, down 1.99% from Friday's market close.