Dycom Industries (DY) PT Raised to $320 as KeyBanc Reiterates Top Pick

KeyBanc analyst Sangita Jain raised the price target on Dycom Industries (NYSE: DY) to $320.00 (from $306.00) while maintaining an Overweight rating.

The analyst commented: "We reiterate DY as a top pick and raise our PT to $320 (from $306). DY, we believe, has multiple shots at the goal with the FTTH growth unfolding in the NT, to be followed by a BEAD layering on growth over the next one to three years to be then followed by a ramp in the datacenter-led middle mile fiber buildout. At ~12x FY27E, the longer-term growth cycle is not adequately reflected, especially when factoring in potential operating leverage and improved FCF characteristics as the revenue growth unfolds."

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