Primoris Services Shares Climb Amid Mizuho Upgrade Despite Lowered Price Target
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Shares of Primoris Services Corporation (NYSE: PRIM) rose 3.5% in premarket trading after Mizuho Capital Markets upgraded the stock from Neutral to Outperform, despite lowering the price target from $175 to $135. Analyst Maheep Mandloi noted temporary execution challenges in the renewable segment but anticipates increased contract bookings through 2026. Mizuho applied a 13x multiple to 2027 EBITDA projections, reflecting a cautious yet optimistic outlook. The stock's rise suggests traders may see long-term potential in Primoris, particularly in the evolving energy sector.
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