Wells Fargo lowers Primoris Services price target to $85
Wells Fargo analyst Jerry Revich maintains an Equal-Weight rating on Primoris Services but lowers the price target to $85 from $118.
*this image is generated using AI for illustrative purposes only.
Wells Fargo analyst Jerry Revich has adjusted the price target for Primoris Services while maintaining the stock's rating. The firm lowered its price objective to $85, down from the previous $118, while keeping an Equal-Weight recommendation on the shares.
Rating and Price Action
The revision reflects a change in the firm's valuation outlook for the company. Despite the lower price target, the Equal-Weight rating suggests the stock is expected to perform in line with the broader market.
| Metric | Value |
|---|---|
| Rating | Equal-Weight |
| New Price Target | $85 |
| Previous Price Target | $118 |
What factors contributed to the significant reduction in the price target for Primoris Services?
How might this revised valuation outlook impact investor sentiment towards the stock?
Are there sector-wide trends influencing Wells Fargo's decision to lower the price target?
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