FBR Capital Reiterates an 'Outperform' on MYR Group (MYRG); Additional Thoughts on 1Q
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Price: $334.39 +2.17%
Rating Summary:
5 Buy, 11 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
5 Buy, 11 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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FBR Capital reiterates an 'Outperform' on MYR Group (NASDAQ: MYRG), PT $34.
FBR analyst says, "MYR Group is one of our favorite small-cap specialty contractors with exposure to the improving electric transmission end market. The company has the highest exposure to the transmission market (approximately 50% of revenue) and is well positioned to benefit from bidding opportunities and new project awards. MYR Group has been investing in specialized equipment and tooling over the last few years in anticipation of this cycle and will continue to do so through 2011 to increase its capacity for large projects."
'We have raised our 2011 EPS estimate to $0.90 to reflect the first-quarter surprise. And although we have not changed our 2012 estimates, we have greater confidence given the state of backlog."
For more ratings news on MYR Group click here and for the rating history of MYR Group click here.
Shares of MYR Group closed at $25.88 yesterday.
FBR analyst says, "MYR Group is one of our favorite small-cap specialty contractors with exposure to the improving electric transmission end market. The company has the highest exposure to the transmission market (approximately 50% of revenue) and is well positioned to benefit from bidding opportunities and new project awards. MYR Group has been investing in specialized equipment and tooling over the last few years in anticipation of this cycle and will continue to do so through 2011 to increase its capacity for large projects."
'We have raised our 2011 EPS estimate to $0.90 to reflect the first-quarter surprise. And although we have not changed our 2012 estimates, we have greater confidence given the state of backlog."
For more ratings news on MYR Group click here and for the rating history of MYR Group click here.
Shares of MYR Group closed at $25.88 yesterday.
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