Construction Partners price target raised to $55 from $50 at DA Davidson

DA Davidson analyst Brent Thielman raised the firm’s price target on Construction Partners to $55 from $50 and keeps a Neutral rating on the shares after its Q2 earnings beat. The firm is “encouraged” to see continued margin expansion and improving ROE while also citing the company’s favorable public markets and planning that is “still supportive of future growth”, the analyst tells investors in a research note. DA Davidson also raises its FY24 EPS view by 6c to $1.44 and its FY25 view by 7c to $1.90.