Market Overview

UPDATE: D.A. Davidson Upgrades EMCOR Group as Recovering Nonresidential Environment is Expected to Boost Growth

Share:

In a report published Thursday, D.A. Davidson & Co. analyst John B. Rogers upgraded the rating on EMCOR Group (NYSE: EME) from Neutral to Buy, and reiterated the $45.00 price target.

In the report, D.A. Davidson & Co. noted, “Following a sharp decline in nonresidential construction activity between 2009 and 2011, spending on commercial/industrial projects has not meaningfully rebounded, in notable contrast to past construction cycles. Underinvestment and recent improvements in demand within select markets are now increasing support for new spending initiatives on commercial and industrial nonresidential investment. As shown in Diagram I, the ABI index of advance billing demand has historically led organic growth for EMCOR by a year. A recent upturn in the index provides a positive early indicator of building activity. Notably there is some risk that the recent government shutdown could slow some project planning over the near-term, although we suspect a slowing would be temporary.”

EMCOR Group closed on Wednesday at $36.78.

Latest Ratings for EME

DateFirmActionFromTo
Aug 2019MaintainsBuy
Oct 2018UpgradesNeutralBuy
Feb 2017UpgradesHoldBuy

View More Analyst Ratings for EME
View the Latest Analyst Ratings

Posted-In: D.A. Davidson & Co. John B. RogersAnalyst Color Upgrades Analyst Ratings

 

Related Articles (EME)

View Comments and Join the Discussion!

Latest Ratings

StockFirmActionPT
LOWRBC CapitalMaintains129.0
MARRBC CapitalMaintains148.0
CRLSunTrust Robinson HumphreyMaintains162.0
CFRSunTrust Robinson HumphreyMaintains105.0
ZYNEJefferiesAssumes11.0
View the Latest Analytics Ratings
Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Trading Daily
Get pre-market outlook, mid-day update and after-market roundup emails in your inbox.
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Daily Analyst Rating
A summary of each day’s top rating changes from sell-side analysts on the street.
Thank You

Thank you for subscribing! If you have any questions feel free to call us at 1-877-440-ZING or email us at vipaccounts@benzinga.com

Piper Jaffray Reiterates Neutral on VMware Following Muted Q3 Results

UPDATE: Barclays Downgrades Ariad Pharmaceuticals Following News of Iclusig Clinical Hold