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Primoris Services Shares Up Amid D.A. Davidson Upgrade

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In a note released Friday morning, D.A. Davidson upgraded shares of Primoris Services (NASDAQ: PRIM) from Neutral to Buy and made a slight increase to the price target from $31 to $32.

The note began by acknowledging Primoris Services' second quarter results were inline with expectations, but were relatively flat in terms of growth.

Looking forward however, D.A. Davidson said the company has an "improved growth outlook" as such, the firm has raised its 2014 and 2015 EPS estimates from $1.50 and $1.80 to $1.60 and $1.85. The increase to these estimates reflects a higher margin assumption in the near-term due to the start-up of previously delayed work and prospects for increased industrial construction activity.

Latest Ratings for PRIM

DateFirmActionFromTo
Apr 2015KeyBancMaintainsOverweight
Mar 2015WunderlichMaintainsBuy
Dec 2014BB&T CapitalDowngradesBuyHold

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Posted-In: D.A. Davidson & CoAnalyst Color News Upgrades Price Target Analyst Ratings

 

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