Emcor initiated with a Buy at Stifel

Stifel initiated coverage of Emcor (EME) with a Buy rating and $600 price target as part of a broader note initiating coverage of electrical & mechanical and engineering & construction companies. Stifel likes the scale that positions Emcor to win large data center and manufacturing projects as well as leverage key virtual design and construction and pre-fab capabilities, and believes best practice sharing across the various subsidiaries is a key advantage and has allowed Emcor to expand its capabilities to additional geographic markets over time, the analyst tells investors in a research note. Emcor also has a strong M&A and capital allocation track record, the firm adds.