These Analysts Increase Their Forecasts On Dycom Industries After Q3 Results
Portfolio Pulse from Lisa Levin
Dycom Industries Inc (NYSE:DY) reported Q3 results with contract revenue of $1.136 billion, surpassing the consensus of $1.070 billion. EPS was $2.82, beating the $1.78 consensus. Shares rose 2.5% to $104.25. Wells Fargo raised its price target from $105 to $125 and maintained an Overweight rating. B. Riley Securities increased its price target from $94 to $101 with a Neutral rating.
November 22, 2023 | 3:48 pm
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POSITIVE IMPACT
Dycom Industries exceeded Q3 revenue and EPS estimates, causing its stock to rise and leading analysts to increase price targets.
The positive earnings report and subsequent rise in stock price indicate a bullish short-term outlook. Analyst upgrades from Wells Fargo and B. Riley Securities further support this sentiment, likely leading to increased investor confidence and potential stock price appreciation.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100