Granite price target raised to $60 from $55 at DA Davidson

DA Davidson raised the firm’s price target on Granite to $60 from $55 and keeps a Buy rating on the shares. The company’s acquisition of suppliers LRC and MSG should provide a platform for expansion in the southeast region while leverage is manageable post-deal, the analyst tells investors in a research note. The firm adds that Granite’s well-funded end markets provide good visibility in today’s environment, while a consolidation strategy looks to be advancing.