UPDATE: DA Davidson Downgrades Granite Construction to Neutral; Valuation Full in Near Term

by Benzinga Staff
August 21, 2012 10:41 AM | 1 min read

20-Year Pro Trader Reveals His "MoneyLine"

Ditch your indicators and use the "MoneyLine." A simple line tells you when to buy and sell without the guesswork. It’s a line on a chart that’s helped Nic Chahine win 83% of his options buys. Here's how he does it.

DA Davidson lowered its rating on Granite Construction (NYSE: GVA) from Buy to Neutral with a reiterated $30 price target. DA Davidson noted, "[T]he shares are now trading at a substantial premium to peers based on our estimates for EPS and EBITDA, which are unchanged. A portion of the premium can be justified by the company's historical growth and competitive advantages, including large project capabilities and local experience, as well as the incremental value in the company's aggregates reserves. However the current premium appears to leave modest near-term upside potential relative to our $30 price target."Granite Construction closed at $28.07 on Monday.

20-Year Pro Trader Reveals His "MoneyLine"

Ditch your indicators and use the "MoneyLine." A simple line tells you when to buy and sell without the guesswork. It’s a line on a chart that’s helped Nic Chahine win 83% of his options buys. Here's how he does it.

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Posted In: Analyst ColorDowngradesPrice TargetIntraday UpdateAnalyst RatingsDA Davidson

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