DA Davidson Downgrades Primoris Services Corporation (PRIM) to Neutral; Share Run-up Cuts Near-term Valuation Appea

DA Davidson downgraded Primoris Services Corporation (NASDAQ: PRIM) from Buy to Neutral with a price target of $17.50.

DA analyst says, "The shares of Primoris have been among the best performing E&C shares, particularly among smaller cap peers, over the last year, including a more than 50% gain during the past four months. Much of the improvement can be attributed to increased earnings in 2011, including substantial contributions from work on a major gas pipeline project completed during Q3 2011."

For an analyst ratings summary and ratings history on Primoris Services Corporation click here. For more ratings news on Primoris Services Corporation click here.

Shares of Primoris Services Corporation closed at $16.10 yesterday.

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