Arcosa price target raised to $85 from $80 at DA Davidson

DA Davidson analyst Brent Thielman raised the firm’s price target on Arcosa to $85 from $80 and keeps a Buy rating on the shares after its Q1 earnings beat. The analyst cites the company’s strong results and orders across business unit lines, along with the "overall encouraging" levels of inquiries, that mark a solid start for Arcosa in 2023. DA Davidson adds that it sees a lot of momentum in the business with a great balance sheet and cash flow to leverage prevailing infrastructure market trends.