Construction Partners price target raised to $45 from $42 at DA Davidson

DA Davidson raised the firm’s price target on Construction Partners to $45 from $42 and keeps a Neutral rating on the shares after its Q1 earnings beat. The company’s continued margin progress and stable backlog were key highlights in the quarter, the analyst tells investors in a research note. Healthy bidding conditions supported by IIJA/state funding programs and favorable commercial demand in the Southeast continue to support organic growth, with Construction Partners’ acquisition program also ongoing, the firm added.