UPDATE: Imperial Capital Initiates Orion Marine Group at In-Line on Multiple Catalysts Ahead

In a report published Tuesday, Imperial Capital analyst Scott Levine initiated coverage on Orion Marine Group ORN with an In-Line rating and $13.00 price target.

In the report, Imperial Capital noted, “We are initiating coverage of ORN with an In-Line rating and a one-year price target of $13. As a leading provider of marine construction services in the U.S., we view ORN as a likely beneficiary of a number of discrete spending catalysts that we expect to drive spending up over the next few years. That said, with further improvement in ORN's markets (and margins) likely to be gradual, and with the shares trading at a premium following recent strength, we think much of the good news is discounted.”

Orion Marine Group closed on Monday at $11.16.