Argus raised the firm’s price target on MDU Resources to $31 from $30 and keeps a Buy rating on the shares. The company is strengthening operations in its utility segment through acquisitions and expansion projects, and is planning to spin off the construction services operations, which should result in more consistent performance over time later this year, the analyst tells investors in a research note. MDU also has a solid balance sheet and a secure dividend with a yield of about 2.0%, the firm added.
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