B. Riley analyst Alex Rygiel raised the firm’s price target on Tutor Perini to $17 from $16 and keeps a Buy rating on the shares. The analyst increased estimates post the Q1 beat and expects a continuation of cash collections and cash flow generation as well as backlog growth throughout 2024 and 2025. This setts up Tutor for significant growth in 2025 and beyond, the analyst tells investors in a research note.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on TPC:
- Tutor Perini subsidiary awarded $72.7M contract by the city of Pensacola
- Tutor Perini subsidiary’s joint venture awarded contracts totaling $54.5M
- Tutor Perini Announces Strategic Financial Restructuring Moves
- Tutor Perini Announces Board Retirement and New Officer
- Tutor Perini unit apparent low bidder for $136M project
