MYR Group Inc.’s (MYRG) Price Target Raised

Analysts Jeffrey Beach, Noelle Dilts and Nathan Jones at Stifel Nicolaus have raised the price target for MYR Group Inc. (NASDAQ: MYRG) from $26 to $27. The company has reported its fourth-quarter results.

MYR Group posted EPS of $0.21 in its fourth-quarter, which was in-line with analysts’ estimates. Excluding storm revenues, the company’s fourth-quarter revenues were at record levels for both, C&I and T&D segments. The company’s backlog in fourth-quarter was $204.4 million, an 18.8% decline from its third-quarter.

Analysts forecast EPS of $0.11 on revenue of $138 million in the first-quarter for MYR Group.

Analysts at Stifel Nicolaus have maintained their Buy rating for MYR Group Inc.