Tutor Perini Corporation (TPC) PT Raised to $35.00 at Canaccord Genuity

Canaccord Genuity raised its price target on Tutor Perini Corporation (NYSE: TPC) to $35.00 (from $30.00) after updating estimates. Maintained a Buy rating.

Analyst Bobby Burleson commented, "We are increasing our 2017 estimates and introducing 2018 estimates for TPC, and expect the company will continue to deliver a healthy pace of wins for its Building and Civil segments in 2017. We view Q1 as likely to see multiple Civil awards, which should boost backlog and the longer-term outlook for growth and margins as well as drive modest multiple expansion. Our price target is increased to $35 from $30."

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