KeyBanc Upgrades MYR Group (MYRG) to Overweight

KeyBanc analyst Sangita Jain upgraded MYR Group (NASDAQ: MYRG) from Sector Weight to Overweight with a price target of $136.00.

The analyst comments: "Earlier this week we hosted MYRG's CEO and CFO for two days of investor meetings. In this note, we provide details on the key topics of discussion (potential tariff impacts, update on problem projects, revenue and margin outlook for the base business, and bid activity across both segments). We are upgrading MYRG to OW with a $136 PT to take advantage of the shares trading ~2.5x below their three-year average EV/EBITDA just as the Company is showing an upward ramp in revenue and margin growth profile following execution challenges on select projects in 2024."

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

Shares of MYR Group closed at $111.66 yesterday.

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