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Potential Infrastructure Spending Raises Expectations For Upside At U.S. Concrete

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Given President Trump’s proposed $1 trillion infrastructure plan, analysts are predicting vast growth opportunities ahead for construction product company, U.S. Concrete, Inc. (NASDAQ: USCR).

“USCR remains positioned for a multitude of opportunities. Broader borough building development and infrastructure initiatives in the greater NYC market, coupled with pricing opportunities after recent market consolidation should contribute in the next several years,” analyst Brent Thielman of DA Davidson said.

Related Link: Why Trump's $1 Trillion 10-Year Infrastructure Plan Will Only Provide $200 Billion In Stimulus

Shares of US Concrete moved significantly higher Wednesday, up nearly 7 percent, following a fourth quarter earnings beat well above consensus estimates on both the top and bottom lines. Revenues for the construction products company gained 21 percent in the quarter.

The move prompted DA Davidson to increase the company’s profit expectations for 2017 and 2018, on recent strong performance and indications of business momentum.

DA Davidson maintains a Buy rating and an $80 price target on the stock.

Latest Ratings for USCR

DateFirmActionFromTo
Nov 2019DowngradesOverweightEqual-Weight
Nov 2019MaintainsBuy
Oct 2019MaintainsBuy

View More Analyst Ratings for USCR
View the Latest Analyst Ratings

Posted-In: Brent Thielman construction DA Davidson infrastructureAnalyst Color Politics Analyst Ratings General

 

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