Skip to main content

Market Overview

FBR Says MYR Group May Be Next M&A Target After Pike

Share:

Following Monday's announcement that investment firm Court Square Capital and J. Eric Pike will acquire Pike (NYSE: PIKE) for $12 per share, FBR analyst Alex Rygiel said MYR Group (NASDAQ: MYRG) is likely the next M&A target.

Rygiel believes the deal will probably go through at $12 per share as it is unlikely Pike's peers would be willing to pay more than 8x EV/EBITDA. He also noted that at 8x EV/EBITDA MYR would trade at ~$34, which represent 36 percent upside.

Rygiel rates MYR Group at Outperform.

Latest Ratings for MYRG

DateFirmActionFromTo
Jun 2020StifelMaintainsBuy
May 2020B. Riley SecuritiesMaintainsNeutral
Apr 2020BairdDowngradesOutperformNeutral

View More Analyst Ratings for MYRG
View the Latest Analyst Ratings

 

Related Articles (MYRG)

View Comments and Join the Discussion!

Posted-In: Alex Rygiel FBRAnalyst Color Reiteration Analyst Ratings

Latest Ratings

StockFirmActionPT
PHXSeaport GlobalInitiates Coverage On
AFCGLake StreetInitiates Coverage On29.0
OSSNoble Capital MarketsUpgrades7.0
NCNOGabelli & Co.Upgrades
HAECJS SecuritiesUpgrades
View the Latest Analytics Ratings
Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Premarket Activity
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.
Fintech Focus
A daily collection of all things fintech, interesting developments and market updates.
SPAC
Everything you need to know about the latest SPAC news.
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