As previously reported, Wells Fargo analyst Eric Luebchow downgraded Dycom (DY) to Equal Weight from Overweight with a price target of $88, down from $120. The firm expects revenue growth to slow materially in fiscal 2024 based on a more muted forecast for fiber builds, particularly at AT&T (T) and Lumen (LUMN).
Published first on TheFly
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Read More on DY:
- Dycom downgraded to Equal Weight from Overweight at Wells Fargo
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