Sterling Construction (STRL) PT Raised to $265 at DA Davidson

DA Davidson analyst Brent Thielman raised the price target on Sterling Construction (NASDAQ: STRL) to $265.00 (from $205.00) while maintaining a Buy rating.

The analyst commented, "We are increasing our PT (now $265) following the CEC transaction announcement which should lend a new platform for STRL to leverage certain attractive existing markets served (albeit more so within new territories)…Our ests. are unchanged for now although we increase our PT to $265 (from $205) or 17x/16x '25/'26 EBITDA (using pro forma annualized CEC contribution ests.) or 19x/18x pro forma FCF/sh estimates. We do see various levers for organic upside to forecasts NT/MT, particularly within E-Infra.; while CEC could grow faster than contemplated under STRL."

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