Guggenheim analyst Joseph Osha has reaffirmed a Buy rating for Primoris Services, maintaining a price target of $162. The reiteration signals continued confidence in the company's stock performance.

Analyst Rating

Guggenheim's stance remains positive as Joseph Osha keeps the recommendation at Buy. The price target is held steady at $162.

Primoris Services Corporation has appointed Tim Healy as Interim President of its renewables business, effective immediately. Healy succeeds Anthony Vorderbruggen, who departed from the company. The leadership change comes as Primoris aims to strengthen its position in the utility, energy, and renewables markets throughout the United States and Canada.

The company has initiated a search process to identify a permanent replacement for the role. This search will include both internal and external candidates. Tim Healy previously served as President of ARB Industrial, Inc., a Primoris company.

Koti Vadlamudi, President and Chief Executive Officer of Primoris, highlighted Healy's qualifications for the interim position. "I am confident in Tim's ability to lead our renewables business during this transition," Vadlamudi said. He noted that Healy brings decades of business leadership, construction experience, and a track record of successful operational execution.

Primoris stated it remains committed to investing in and driving growth within its renewables business. The company provides engineering, construction, and maintenance services for utility-scale solar and other infrastructure projects. Vadlamudi emphasized that the firm is well-positioned to capitalize on upcoming opportunities while maintaining its focus on safe, high-quality project delivery.

The appointment marks a shift in leadership for the renewables division at a time when the sector is a key area of focus for the infrastructure services provider.