UPDATE: D.A. Davidson Upgrades Sterling Construction, Expects Earnings Recovery To Continue
Shares of Sterling Construction Company (NASDAQ: STRL) surged approximately 13 percent on Monday, May 12, 2014 after analyst John B. Rogers upgraded the company from Neutral to Buy.
The firm stated that its 12-18 month price target was $8.00, while the 5-year price target was $15.00.
The firm continued to state, that the recent earnings report by STRL was, “Sterling reported Q1 GAAP EPS of $0.01, above our estimate of a loss of $0.05 and the breakeven consensus.”
In addition, Rogers stated that the company's operating results were essentially in-line with estimates.
Sterling Construction also improved its backlog as it increased to $799 million from $693 million the same time a year ago.
© 2014 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.