KeyBanc raised the firm’s price target on Dycom to $200 from $195 and keeps an Overweight rating on the shares. The firm notes the company reported an in-line quarter, announced an attractive acquisition, and highlighted AI-related spending on fiber expansion. However, the below-expectation Q3 guide dominated the narrative, KeyBanc says. Dycom shares are +56% year-to-date, and the firm understands the profit taking on the quarterly print. KeyBanc sees this as a buying opportunity.
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