FBR Capital Reiterates an 'Outperform' on MYR Group (MYRG); Buy on Recent Weakness--
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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, "MYRG stock is down almost 20% since its recent high of $25.95 on May 11, 2011, compared to the S&P 500, which is down only 3% during the same period. During this time, we do not believe there has been any news on the company or the industry that could have caused the sell-off. We think the modest correction represents a very attractive opportunity to build a position in the leading electric transmission contractor that we believe is at an inflection point of significant organic revenue growth, profit margin expansion, and earnings growth. And, given its industryleading backlog growth, it has the greatest visibility for growth across all of its peers over the next three-plus years. We reiterate our rating and believe investors should buy shares of MYRG on this weakness."
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 $21.10 yesterday.
FBR analyst says, "MYRG stock is down almost 20% since its recent high of $25.95 on May 11, 2011, compared to the S&P 500, which is down only 3% during the same period. During this time, we do not believe there has been any news on the company or the industry that could have caused the sell-off. We think the modest correction represents a very attractive opportunity to build a position in the leading electric transmission contractor that we believe is at an inflection point of significant organic revenue growth, profit margin expansion, and earnings growth. And, given its industryleading backlog growth, it has the greatest visibility for growth across all of its peers over the next three-plus years. We reiterate our rating and believe investors should buy shares of MYRG on this weakness."
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 $21.10 yesterday.
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