Dycom price target raised to $200 from $185 at Wells Fargo

Wells Fargo raised the firm’s price target on Dycom to $200 from $185 and keeps an Overweight rating on the shares. In conjunction with its residential broadband deep dive, the firm is updating its Dycom price target. Wells has firmer conviction that fiber builds, particularly among private companies, are further accelerating in 2024-plus before the BEAD catalyst arrives.