Wolfe Research starts MDU spinout Everus with a Peer Perform

As previously reported, Wolfe Research initiated coverage of Everus Construction Group (ECG), which was spun-out from MDU Resources (MDU), with a Peer Perform rating and no price target. The specialty contractor is well positioned to capitalize on secular infrastructure tailwinds such as data centers, but with shares up about 21% post spin, the firm is waiting for a more attractive entry point, the analyst tells investors.