Dycom initiated with an Overweight at JPMorgan

JPMorgan initiated coverage of Dycom (DY) with an Overweight rating and $200 price target The firm sees “strong” revenue and EBITDA growth for the company as the premier provider of contract services to the communications industry. Dycom is poised to benefit from the fiber-to-the-home expansion, ongoing workloads for cable companies, new metro and long-haul fiber projects, and wireless activity, the analyst tells investors in a research note.