Primoris initiated with a Buy at Jefferies

Jefferies initiated coverage of Primoris (PRIM) with a Buy rating and $73 price target Primoris is an engineering and construction company in diversified end-markets positioned to benefit as customers increase spending on renewables and energy infrastructure, the analyst tells investors. Profitable organic growth, margin expansion, sustainable cash flow, and financial and operational execution were all on display in 2024 with momentum building into 2025-2026, the analyst added.