Imperial Capital Downgrades Great Lakes Dredge & Dock (GLDD) to In-Line
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Imperial Capital downgraded Great Lakes Dredge & Dock (NASDAQ: GLDD) from Outperform to In-Line with a price target of $4.00 (from $5.50).
Analyst Scott Levine commented, "While we think GLDD should benefit from a multi-year uplift in marine construction activity, we await evidence of improvement in its E&I segment, and think its prospects are largely discounted around current levels."
Shares of Great Lakes Dredge & Dock closed at $3.73 yesterday.
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