B. Riley lowered the firm’s price target on Dycom (DY) to $200 from $234 and keeps a Buy rating on the shares after assuming coverage of the name. The company had a strong finish to 2024, with double-digit year over year backlog growth and higher y/y EBITDA margins, and the firm expects further momentum beyond FY25 with longer-term customer commitments for fiber-to-the-home wireless modernization, data center growth, and an increased need for core network maintenance, the analyst tells investors in a research note.
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Read More on DY:
- Dycom Reports Strong Fiscal 2025 Financial Performance
- Dycom Industries’ Earnings Call Highlights Growth and Challenges
- Dycom price target lowered to $201 from $229 at KeyBanc
- Dycom Announces Q4 Results and Stock Repurchase Plan
- Positive Outlook for Dycom: Buy Rating Backed by Strategic Growth Opportunities and Attractive Valuation
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