Sterling Construction price target raised to $48 from $35 at DA Davidson

DA Davidson raised the firm’s price target on Sterling Construction to $48 from $35 and keeps a Buy rating on the shares after its Q4 results and guidance. The analyst notes that there are some short-term constraints to valuation, but the firm also sees shares as "inexpensive", with the business generating significant cash and the management having a "penchant" for transformative and highly accretive acquisitions. Sterling Infrastructure represents a medium- to long-term growth transformation story, the firm tells investors in a research note.