Primoris price target raised to $45 from $40 at DA Davidson

DA Davidson analyst Brent Thielman raised the firm’s price target on Primoris to $45 from $40 and keeps a Buy rating on the shares. The stock fell after Q4 results on concerns around a mix of transitory margin issues and initial 2024 growth projections, though the companty’s backlog and market opportunities are ample with margin expansion opportunities in 2024, the analyst tells investors in a research note.