Construction Partners price target raised to $57 from $51 at Stifel

Stifel raised the firm’s price target on Construction Partners to $57 from $51 and keeps a Buy rating on the shares. The company’s recently reported Q1 revenues and adjusted EBITDA were ahead of expectations, the analyst tells investors. The firm sees momentum across the business and continues to expect infrastructure to be one of the stronger construction markets throughout the year. Overall, Stifel likes the company’s growth initiatives and what it is doing to drive its margins structurally higher over time.