Dycom price target raised to $195 from $143 at Raymond James

Raymond James analyst Frank Louthan raised the firm’s price target on Dycom to $195 from $143 and keeps a Strong Buy rating on the shares. Management posted a very strong quarter and initiated a Q2 outlook that also exceeded expectations, even without the acquired revenue, the analyst tells investors in a research note. A stabilized rate environment is helping customers solidify build plans, while bringing valuation expectations back to earth and weeding out bidders, the firm says.