Everus Construction price target lowered to $55 from $67 at Stifel

Stifel analyst Brian Brophy lowered the firm’s price target on Everus Construction (ECG) to $55 from $67 and keeps a Buy rating on the shares. Following the firm’s Q1 Transmission and Distribution Engineering and Construction survey, the firm says respondent commentary highlighted a slightly softer Q1, relative strength from data centers, concerns over material pricing due to tariffs, and “particularly healthy backlogs.” The firm believes tariffs have also created incremental risk for the clean energy outlook and related T&D work, but stockpiling of materials among large developers likely supports activity this year, the analyst added in a note on the group in which the firm trimmed several price targets.