UPDATE: Stifel Downgrades EMCOR Group (EME) to Hold

(Updated - December 8, 2016 10:49 AM EST)

Stifel downgraded EMCOR Group (NYSE: EME) from Buy to Hold with a price target of $70 (unchanged). Analyst Noelle C. Dilts sees risk-reward as balanced.

"We are moving to a Hold rating from Buy on EMCOR, as we see reasonably balanced risk reward at current levels. Shares are up 50.8% YTD (versus an 9.7% increase in the S&P 500) and 18.3% post-elections (versus 4.8% in the S&P 500). Shares are trading at $72.44 versus our $70.00 target. This is entirely a valuation call. We maintain our favorable view on the nonresidential construction market and EMCOR’s ability to participate in late-cycle growth," said Dilts.

For an analyst ratings summary and ratings history on EMCOR Group click here. For more ratings news on EMCOR Group click here.

Shares of EMCOR Group closed at $72.44 yesterday.

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