Dycom price target raised to $190 from $145 at Craig-Hallum

Craig-Hallum raised the firm’s price target on Dycom to $190 from $145 and keeps a Buy rating on the shares. Dycom reported better than expected results and Q2 guidance as the company sees its organic growth accelerating faster than anticipated, the firm says. Craig-Hallum continues to believe the company is positioned very well for longer term growth with secular trends for expanding fiber deployments to support gigabit-plus broadband connectivity speeds, wireless backhaul, and wireline/wireless converged networks.