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Investing.com - Jefferies has raised its price target on MYR Group (NASDAQ:MYRG) to $230.00 from $221.00 while maintaining a Hold rating on the stock. MYR is currently trading at $235.79, already above the new target and near its 52-week high of $241.13. According to InvestingPro data, the stock appears overvalued compared to its Fair Value estimate.
The firm cited strength expected through 2026-2028 following solid and consistent year-to-date results. Jefferies noted a Commercial & Industrial (C&I) margin step-up with operational leverage driving higher cash and earnings.
MYR Group is projected to see modest improvement year-over-year in fiscal year 2026 with approximately 10% topline growth in its segments. The firm is waiting on potential large Transmission & Distribution (T&D) project awards in fiscal year 2026.
Jefferies views MYR Group’s Commercial & Industrial diversification as positive but noted the company lacks data center exposure compared to peers. The firm expects MYR Group to benefit from electric utilities T&D spending and nonresidential C&I construction.
While raising estimates and the price target, Jefferies maintained its Hold rating, stating it remains positive on the sector overall and "increasingly positive" on MYR Group specifically. InvestingPro identifies that MYR trades at a high P/E ratio of 38.67 but has a low PEG ratio relative to earnings growth. Discover 15+ additional ProTips and comprehensive analysis in MYR Group’s Pro Research Report.
In other recent news, MYR Group Inc. announced its third-quarter 2025 financial results, revealing a performance that surpassed market expectations. The company reported an earnings per share (EPS) of $2.05, exceeding the analyst forecast of $1.92. Additionally, MYR Group’s revenue reached $950.4 million, surpassing the anticipated $925.3 million. These results highlight the company’s strong financial performance during this period. Despite the positive earnings and revenue figures, the stock experienced a decline, reflecting a complex market reaction. The financial community continues to monitor MYR Group’s developments closely, as these figures play a crucial role in assessing the company’s current standing. Analysts from various firms have taken note of these recent developments, which could influence their future evaluations of the company. These earnings results are part of the broader context of MYR Group’s ongoing business operations and market presence.
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