MYR Group (MYRG) PT Raised to $221 at Jefferies

Jefferies analyst Julien Dumoulin-Smith raised the price target on MYR Group (NASDAQ: MYRG) to $221.00 (from $202.00) while maintaining a Hold rating.

The analyst comments "Utility T&D capex tailwinds and C&I end-market strength incl data centers. No specific awards expected with 3Q but note steady activity of new projects disclosed YTD. Margins firmly within ranges w/ opp for expansion through FY28. Large project awards (>$100Mn) considered upside incl transmission, data centers. Lower estimates to more accurately reflect ex-solar T&D FY25 yo-y top-line dynamics. Raise PT on peer multiple expansion. Reiterate Hold on valuation."

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