BofA analyst Alexander Waters raised the firm’s price target on Dycom (DY) to $210 from $204 and keeps a Buy rating on the shares. Dycom reported Q3 revenue and adjusted EBITDA that beat BofA and Street estimates, but Q4 guidance that came in below Street expectations drove underperformance throughout yesterday, the analyst noted. Investors were “generally surprised by the sharp stock move,” which the firm believes was a reflection of the strong pre-quarter positioning. The firm remains upbeat on the Dycom story and believes the stock reaction yesterday was “overdone,” the analyst added.
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Read More on DY:
- Dycom Industries Reports Strong Q3 Fiscal 2025
- Dycom Industries Reports Strong Q3 2025 Financial Performance
- Dycom falls -8.7%
- Morning Movers: Target tumbles following earnings release
- Dycom reports Q3 adjusted EPS $2.68, consensus $2.26
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
