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UPDATE: D.A. Davidson Downgrades MYR Group on Valuation

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In a report published Friday, D.A. Davidson analyst John B. Rogers downgraded MYR Group (NASDAQ: 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.

Latest Ratings for MYRG

DateFirmActionFromTo
Sep 2019UpgradesNeutralOutperform
Aug 2019MaintainsNeutral
May 2019UpgradesHoldBuy

View More Analyst Ratings for MYRG
View the Latest Analyst Ratings

Posted-In: D.A. Davidson John B. RogersAnalyst Color Downgrades Analyst Ratings

 

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