BofA raised the firm’s price target on NV5 Global to $110 from $108 and keeps a Neutral rating on the shares, stating that the company capped off the year with “solid” Q4 EBITDA. 2024 guidance suggests that the company is likely starting the year by “erring on the side of caution” given uncertainty around Continuing Resolution pushing some project activity and discretionary work from federal agencies to be delayed, weather, and integration of recent acquisitions coming in at lower margin, the analyst tells investors.
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