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Imperial Capital initiates its coverage on EMCOR Group
EME with an In-line rating and a price target of $30.
Imperial Capital comments, "As the largest specialty contractor in the U.S. with leading positions in electrical and mechanical systems services, EMCOR is a later-cycle construction company that we expect to benefit from a recovery in the non-residential construction market over the next several years. However, given EME's current share price and valuation multiples on other stocks in the E&C space, we expect total share return on EME to be consistent with the select peer group we analyze."
EME closed at $27.59 on Wednesday.
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