Imperial Capital Reiterates Outperform, Lowers Price Target On Great Lakes Dredge & Dock On 4Q14 Review

In a report published Wednesday, Imperial Capital analyst Scott Levine reiterated an Outperform rating on

, but lowered the price target from $10.00 to $8.75. In the report, Imperial Capital noted, "We are maintaining our Outperform rating on GLDD shares, and are lowering our one-year price target to $8.75 from $10. Our price target is about 36% above recent levels. We believe GLDD is well positioned to benefit from an uplift in U.S. marine construction activity, given its strong dredging capabilities. Additionally, we believe long-term growth prospects for its Environmental & Remediation (E&R) segment are also attractive." Great Lakes Dredge & Dock closed on Tuesday at $6.45.