Limbach Holding price target raised to $36 from $24 at Roth MKM

Roth MKM analyst Gerry Sweeney raised the firm’s price target on Limbach Holding to $36 from $24 and keeps a Buy rating on the shares after the company’s Q2 results earlier this month. Limbach continued to execute well with higher margin and less risky Owner Direct Relationships, or ODR, business segment eclipsing 50% of revenue, the analyst tells investors in a research note. While the General Contractor Relationships, or GCR, segment likely stabilizes or shrinks modestly, the risk profile and margins for Limbach likely continue to improve, lifting the company’s EBITDA multiple, the firm added.