Dycom price target lowered to $94 from $111 at B. Riley

B. Riley lowered the firm’s price target on Dycom to $94 from $111 and keeps a Neutral rating on the shares. Weaker leading indicators suggest a slowing of organic growth with particular concern heading into seasonally slower winter months, the analyst tells investors in a research note. The long-term outlook for Dycom remains positive with numerous favorable catalysts to growth across telecom/cable infrastructure, B. Riley says.