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Investing.com - Texas Capital Securities initiated coverage on Tutor Perini Corporation (NYSE:TPC) with a Buy rating and a price target of $85.00 on Wednesday. The stock, currently trading at $64.78 with a market capitalization of $3.43 billion, has delivered an impressive 175% return year-to-date, according to InvestingPro data.
The firm cited Tutor Perini’s record backlog of $21 billion and strong pipeline of bid opportunities over the coming years as key factors in its positive outlook for the heavy civil contractor. With annual revenue of $4.77 billion and analysts expecting sales growth this year, InvestingPro analysis reveals 15+ additional key insights available for subscribers.
Texas Capital Securities noted that Tutor Perini’s decades of experience and broad relationships with transit authorities and developers position the company well for growth in the U.S. and certain international markets.
The research firm highlighted that Tutor Perini has dramatically improved its balance sheet profile compared to the past five years, which should provide a foundation for future growth.
Texas Capital Securities also expressed belief that the bulk of material legacy disputes and litigation is behind the company, suggesting that financial results going forward should more accurately reflect Tutor Perini’s operating performance.
In other recent news, Tutor Perini Corporation reported strong financial results for the second quarter of 2025, significantly exceeding earnings expectations. The company achieved an adjusted earnings per share (EPS) of $1.41, far surpassing the forecasted $0.34. Additionally, revenue reached $1.37 billion, which was above the anticipated $1.2 billion. In other developments, Tutor Perini’s joint venture with Black Construction secured a $181.8 million task order for the Guam Defense System project, awarded by the Naval Facilities Engineering Systems Command Pacific. This contract includes two additional options that could potentially increase the total value by $12.1 million. Moreover, a Tutor Perini subsidiary, Perini Management Services, was awarded a $41.9 million contract by the National Park Service to repair utility systems in the Glen Canyon National Recreation Area in Arizona. These recent developments highlight the company’s continued success in securing significant contracts and delivering strong financial performance.
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