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Investing.com - Guggenheim raised its price target on Primoris Services Corporation (NYSE:PRIM) to $130.00 from $110.00 on Tuesday, while maintaining a Buy rating on the stock. The company’s stock has shown remarkable momentum, delivering a 59% return over the past six months and currently trading near its 52-week high of $115.99.
The price target increase follows Primoris Services’ release of its second-quarter 2025 financial results, which Guggenheim had previously commented on in a separate note.
Guggenheim cited model revisions and updated valuation analysis as the basis for the $20 increase in its price target for the infrastructure services provider.
The firm reaffirmed its Buy recommendation for Primoris Services stock based on these adjustments to its financial outlook.
Primoris Services Corporation provides construction, fabrication, maintenance, and engineering services to public utilities, oil and gas companies, power companies, and municipalities across the United States. The company has demonstrated its commitment to shareholder value by maintaining dividend payments for 18 consecutive years.
In other recent news, Primoris Services Corporation reported strong financial results for the second quarter of 2025. The company achieved earnings per share of $1.68, surpassing expectations by 55.56%. Revenue reached $1.9 billion, exceeding forecasts by 11.83%. Following these impressive results, Primoris raised its targets for 2025. In response to the robust performance, KeyBanc raised its price target for Primoris Services to $119 from $98, maintaining an Overweight rating on the stock. These developments reflect strong investor confidence in the company’s future prospects.
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