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Investing.com - KeyBanc raised its price target on Primoris Services Corporation (NYSE:PRIM) to $119.00 from $98.00 on Wednesday, while maintaining an Overweight rating on the stock. The infrastructure company, now valued at nearly $6 billion, has seen its shares surge 114% over the past year, trading near its 52-week high of $112.98.
The price target increase follows Primoris reporting strong second-quarter results that exceeded expectations, prompting the company to raise its 2025 targets. According to InvestingPro data, the company has maintained impressive revenue growth of 15% year-over-year, while consistently paying dividends for 18 consecutive years.
KeyBanc noted that Primoris continues to benefit from an improved mix shift and better execution, which have positively impacted the company’s margins.
The firm highlighted strong bookings momentum across renewables, communications, and natural gas generation awards, which are expected to drive continued strength into 2026.
KeyBanc cited favorable end-market dynamics and Primoris’s market positioning as key factors supporting its decision to raise estimates and increase the price target.
In other recent news, Primoris Services Corporation announced its financial results for the second quarter of 2025, showcasing strong performance. The company reported earnings per share (EPS) of $1.68, which exceeded analysts’ expectations by 55.56%. Additionally, Primoris achieved a revenue of $1.9 billion, surpassing forecasts by 11.83%. These results have been a focal point for investors, indicating robust operational success. While specific stock price movements were noted following the announcement, the financial metrics themselves highlight the company’s positive trajectory. Analyst firms have been closely monitoring these developments, with the earnings and revenue figures indicating a solid position in the market. These recent developments underscore Primoris’s ability to outperform market predictions.
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