In a report published Friday, D.A. Davidson analyst John B. Rogers downgraded MYR Group MYRG from Buy to Neutral, but reiterated the $25.00 price target.
In the report, D.A. Davidson noted, “MYR Group's earnings of $0.44 for the second quarter were in line with our estimate, as indicated below. The reported results included slightly higher contribution from the electrical Transmission and Distribution (T&D) segment and a slightly lower contribution from the Commercial/Industrial electrical business (C&I). Notably the reported results included substantially higher margins on lower revenue levels due to project mix.”
MYR Group closed on Thursday at $22.55.
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