Dycom price target raised to $185 from $175 at Wells Fargo

Wells Fargo analyst Eric Luebchow raised the firm’s price target on Dycom to $185 from $175 and keeps an Overweight rating on the shares. The firm says a material beat and better-than-expected Q2 guide affirms its enthusiasm. With Dycom trading at about 19-20-times its near-term EPS and organic growth about to likely inflect to 10%-plus, Wells thinks there is still valuation support for the name.