Sidoti analyst Brian Russo downgraded Construction Partners to Neutral from Buy with a $59 price target. Solid fundamentals and a favorable outlook are now reflected in valuation and risk/reward is more balanced, the analyst tells investors in a research note. The firm thinks Construction Partners can successfully execute its multi-faceted growth strategy and says the strong balance sheet and free cash flow generation gives the company the flexibility and capacity to pursue near-term acquisitions and high value growth opportunities.
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